Puridify completes Series A funding round
UCL spinout company, Puridify Limited, developers of novel bioprocessing purification technologies for industrial biomolecule manufacture, today announced the closing of a £2.2 million Series A funding round. This follow-on investment by existing investors Imperial Innovations, SR One and UCL Business PLC, brings the total raised including grant funding to £8 million, and is a strong expression of confidence in the company and the progress of its proprietary nanofibre purification platform, FibroSelect.
FibroSelect purification technology will create a step-change in manufacturing productivity, whilst its single-use design will further support reduction of validation time and cost. The Series A funding will enable Puridify to accelerate the commercialisation of this novel nanofibre-based purification technology with the aim of having GMP compatible purification units ready for wider industry use during 2016.
“We are delighted that our investors and Innovate UK are continuing to support us as we look to further expand our team and focus on generating industry relevant end-user data for FibroSelect, while rapidly establishing a manufacturing basis for GMP-compliant products,” commented Dr Oliver Hardick, Chief Executive Officer of Puridify. “Our single-use purification units will enable this technology to effectively service the wider Life Sciences industry. Specifically, collaborations with biotherapeutic drug manufacturers are already proving the benefit of FibroSelect as a single-use high productivity product capture platform, suitable for existing and emergent biologic therapies.”
About Puridify Ltd
Puridify Limited is a UK-based bioprocessing company formed in 2013 as a spin-out from University College London. Puridify’s platform purification technology, FibroSelect, aims to enable new processing strategies. The technology was developed during a collaborative research project between the Advanced Centre for Biochemical Engineering, UCL and the Science & Technology Facilities Council.
The company is privately funded by leading venture capital investors. Puridify’s head office and research & development facilities are based at the Stevenage Bioscience Catalyst, 20 minutes north of London. The company works closely with bioprocessing research experts at University College London and leading industrial collaborators around the world, to drive the rapid development of its platform technologies.
Puridify has secured a number of prestigious awards, including the SR One funded OneStart Competition and Innovate UK Proof of Concept Bid to Smart Award in 2013; Innovate UK’s Feasibility Studies and Collaborative R&D Awards in 2014; and this year received an Innovate UK Industrial Biotechnology Catalyst Project award, co-funded by the Engineering and Physical Sciences Research Council (EPSRC) and the Biotechnology and Biological Sciences Research Council (BBSRC).
For more information, visit: www.puridify.com
Biotherapeutic Industry Context
Global demand for cheaper biotherapeutics and growth of biosimilars, which represent many of the new tools in the fight against diseases such as cancer and neurodegenerative conditions, is driving the need for increased efficiency in biomolecule manufacturing. A significant proportion of current costs arise from the purification technologies now used to ensure the safety and efficacy of these treatments. Recent rapid evolution of the global biopharmaceutical market has drawn focus to the limitations of current purification operations, demanding a step-change improvement in processes. The rapid development of “Next Generation” biotherapeutics of increased complexity and size in addition to a focus on process efficiency, flexibility and convenience during manufacturing is driving the need for innovative but robust technologies that enable new platform processing strategies.
UCLB is a leading technology transfer company that supports and commercialises research and innovations arising from UCL, one of the UK’s top research-led universities.
UCLB has a successful track record and a strong reputation for identifying and protecting promising new technologies and innovations from UCL academics. It invests directly in development projects to maximise the potential of the research and manages the commercialisation process of technologies from the laboratory to market.
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For more information, please contact:
Dr Oliver Hardick, Chief Executive Officer