Avitide, Inc., a Lebanon, N.H.-based company that specializes in the discovery, and manufacture of exclusive biopharmaceutical affinity purification solutions, closed a Series E financing.
The amount of the deal was not disclosed.
The round was led by Sands Capital Ventures with participation from Mithril Capital Management, Polaris Partners, NeoMed Management, OrbiMed Advisors, and Borealis Ventures. In conjuntuon with the funding, Ian Ratcliffe of Sands Capital Ventures joined Avitide’s Board of Directors.
The company intends to use the proceeds to fund ongoing operations with a target to reach profitability by 2019.
Led by Kevin Isett, CEO and Co-Founder, Avitide discovers, manufactures and supplies molecule-specific biopharmaceutical purification solutions deployed against an array of bio-molecules such as enzymes, antibody-based therapeutics, recombinant vaccines, and gene therapies. The company’s proprietary affinity separation technology enables partners to achieve faster bioprocess development timelines, reduced program risk, predictable commercial scalability, and lower cost of manufacturing for batch and continuous operations.