Avitide, Inc., a Lebanon, NH-based biotech company dedicated to the discovery and development of on-demand affinity purification solutions for the biopharmaceutical industry, closed its Series C financing.
The round, whose amount remained undisclosed, was led by NeoMed Management with participation from existing investors Polaris Partners, OrbiMed Advisors, SV Life Sciences and Borealis Ventures. In conjunction with the funding, Claudio Nessi (NeoMed) joined the company’s Board of Directors.
Led by Kevin Isett, CEO and co-founder, Avitide has developed technology that enables its partners to discover and develop scalable affinity purification solutions for the most challenging biopharmaceutical products.
The company intends to use the proceeds to accelerate commercialization of its on-demand affinity purification platform, with a focus on biopharmaceutical drug products that include an array of molecules such as proteins, enzymes, antibody-based therapeutics, recombinant vaccines, gene therapies and biosimilars. The financing is expected to take Avitide to profitability within the next two years.