Vigene Biosciences, a Rockville, MD-based provider of viral vector products and services used in gene therapy, completed a substantial growth capital financing transaction of undisclosed amount.
The investment was made by Signet Healthcare Partners, a New York based growth equity firm specializing in healthcare investments. Concurrently with the financing, Ashley Friedman, Managing Director at Signet Healthcare Partners, along with Jeffrey M Ostrove, Ph.D. (Independent member). Dr. Ostrove, currently the CEO of Locana, is a biotechnology executive with extensive experience in gene therapy, both on the drug development and CDMO side of the business.
The growth capital will be used to support Vigene’s expansion into a new facility to support the demand for viral vector and plasmid production in the fields of cell and gene therapy. Construction of the new facility, located in Rockville, Maryland, is set to be completed mid-2019 and will increase the company’s office, laboratory and cGMP production space by 51,000 sq. ft.
Founded in 2012 and led by CEO Dr. Zairen Sun, Vigene Biosciences is a leader in viral vector-based gene delivery for both life science research and gene therapy applications. The company offers cGMP as well as research-grade production of plasmid, AAV, lentivirus, adenovirus, and other viruses with proven technologies that comply with FDA and EMA guidelines.