Just Biotherapeutics, Inc., a Seattle, WA-based developer of protein therapeutics, closed a $14M Series A2 financing round.
The round was led by The Bill & Melinda Gates Foundation with an $8M investment followed by $2M each from existing investors Merck, Lilly Asia Ventures and ARCH Venture Partners.
The company intends to use the funds to complete new lab space, pilot plant and GMP capabilities that will enable it to accelerate the development of lower-cost biologics.
Founded in 2014 by Jim Thomas, CEO, Just focuses on designing therapeutic molecules and manufacturing plants. The initial Series A investment of $15M by Merck, known as MSD outside of the United States and Canada, LAV and ARCH was used to advance development of a novel technology platform for biologic medicines. The company previously was awarded grant funding from the foundation (up to $24M, over 4 years) to develop novel technologies to lower the commercial cost of monoclonal antibodies (mAbs) in low-income markets and to develop sequence optimized broadly neutralizing anti-HIV antibodies for low-cost manufacture and improved stability.