Health

Synthetic biology startup AbSci raises $65M to expand ‘Protein Printing’ tech

Vancouver, Wash.-based biotech firm AbSci raised a further $65 million to assist develop its artificial biology platform.

The corporate’s “Protein Printing” know-how is used to uncover and manufacture complicated organic molecules equivalent to antibodies and insulin.

The AbSci platform consists of two merchandise: SoluPro, an artificial biology platform based mostly on genetically engineered E. coli, and purification platform SoluPure. SoluPro makes use of the pure processes of E. coli micro organism to construct complicated molecules contained in the micro organism itself.

“At AbSci, our mission is to revolutionize biopharmaceutical discovery and manufacturing utilizing our Protein Printing know-how to allow unprecedented precision and pace,” Sean McClain, founder and CEO of AbSci, stated in a statement.

AbSci has 13 completely different pharma and biotech companions. It lately developed a COVID-19 antibody cell line in 10 days. The 73-person firm has raised $100 million to date, together with a $15.4 million Collection D spherical raised in January.

Casdin Capital led the Collection E spherical, which included participation from Redmile Group, ArrowMark Companions, and Phoenix Enterprise Companions. Representatives of Casdin Capital and Redmile Group will be a part of the board because of the funding.

“We consider AbSci’s Protein Printing know-how has a novel alternative to help the commercialization of next-generation biologics which have lengthy been thought of unmanufacturable,” Eli Casdin, chief funding officer and founder at Casdin Capital, stated in an announcement. “As well as, AbSci’s differentiated business mannequin presents a novel alternative to share of their companions’ successes with alternatives for a income stream from drug growth right through to approval and commercialization.”

McClain began AbSci in 2011. He was simply named an EY Pacific Northwest Area Award winner for Entrepreneur of the Yr.

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