What You Should Know:
– Biotech startup Ori Biotech raises $30M in Series A funding to scale its cell and gene therapy (CGT) manufacturing platform.
– Ori Biotech helps pharmaceutical and biotech companies develop and manufacture cell and gene therapies. Its patented technology aims to reduce the manufacturing cost of these life-saving treatments by up to 80%, allowing them to be more widely accessible for patients.
Ori Biotech Ltd (Ori), a leading innovator in cell and gene therapy (CGT) manufacturing, today announced the successful close of a $30 million Series A financing round, bringing the company’s total funding to date to $41 million. The Series A round was led by the experienced life sciences investment team at Northpond Ventures, a leading global science, medical, and technology-driven venture fund, alongside Octopus Ventures, a leading European venture fund. Northpond and Octopus invested alongside significant support from Ori’s existing institutional investors, Amadeus Capital Partners, Delin Ventures, and Kindred Capital.
The Future of Cell and Gene Therapy Manufacturing
Founded in 2015 by Dr. Farlan Veraitch and Professor Chris Mason, Ori Biotech is a London and New Jersey-based cell and gene therapy (CGT) manufacturing technology company. Ori has developed a proprietary, flexible manufacturing platform that closes, automates, and standardizes manufacturing allowing therapeutics developers to further develop and bring their products from pre-clinical process development to commercial-scale manufacturing. The mission of the Ori platform is to fully automate CGT manufacturing to increase throughput, improve quality, and decrease costs in order to enable patient access to this new generation of life-saving treatments.
The new funding will be used to help bring Ori’s innovative manufacturing platform to the market. The Ori platform delivers scalable solutions to flexibly address the critical clinical and commercial manufacturing needs of CGT developers.
“Closing a significant Series A round, during these uncertain times, further validates Ori’s disruptive approach to fully automating cell and gene therapy manufacturing to increase throughput, improve quality, and decrease costs,” said Jason C. Foster, CEO of Ori Biotech. “We are excited to work with our top tier investors and development partners to bring our platform to market as fast as possible to achieve our mission of enabling patient access to life-saving cell and gene therapies.”