Paragon Bioservices, Inc., a Baltimore, MD-based contract research and manufacturing organization that aims to accelerate the development and manufacturing of biopharmaceuticals and vaccines, raised $13m in Series A financing.
The round was led by NewSpring Capital and Camden Partners. In conjunction with the funding, Dr Kapila Ratnam, Principal at NewSpring Capital, and Dr Christopher W. Kersey, Managing Member at Camden Partners, will join Paragon’s Board.
The company will use the funds to accelerate growth.
Founded in 1990 and led by CEO Marco Chacon and COO Peter L. Buzy, Paragon Bioservices is a CRO-CMO whose focus is biopharmaceuticals—including the production and purification of monoclonal antibodies, recombinant proteins, viral vectors and vaccines. The company provides research services, process development, and cGMP manufacturing.
Paragon’s cGMP space includes microbial and mammalian suites, fill-finish and fully-segregated virus and BSL-3 facilities.