AbSci, a Vancouver, Wash.-based developer of biomanufacturing technologies, completed a $12m Series C financing.
The round was led by Asahi Glass Co., with participation from all prior investors Phoenix Venture Partners, Oregon Venture Fund, WRF Capital, and Souther Co. and new investors Columbia Ventures Corporation and GreenBridge. As a part of the financing, AGC Biologics’ President and CEO, Dr. Gustavo Mahler will join AbSci’s Board of Directors.
The company will use the funds to expand its R&D and to scale up capacity in order to meet the demand from its large pharma and biosimilar partners.
Led by Founder and CEO Sean McClain, AbSci has developed a protein expression platform, SoluPro™, based on genetically engineered E. coli and plasmids, which delivers titers of complex proteins, ranging from full-length antibodies to insulin.