Tuesday September 10, 2019 0 comments
BOULDER -- InDevR, Inc., a biotechnology company focused on developing and commercializing novel analytical technologies for biologic process development and monitoring, announced it has raised a $7 million Series A round of equity financing from Adjuvant Capital.
The investment from Adjuvant will support research and development activities and allow InDevR to build out a global commercial enterprise in order to address the growing demand for the company’s multiplexed protein quantification platform, VaxArray.
InDevR said its VaxArray products are already impacting influenza vaccine bioprocess optimization in novel influenza vaccine manufacturing platforms and the company plans to aggressively build on that success by expanding into new applications—many of which have the potential to meaningfully reduce the complexity, execution timeline, and cost of essential public health vaccines and biotherapeautics.
“Although laboratory assays for biological product characterization are not often in the limelight, they are essential components of the product development and quality control processes,” said Glenn Rockman, Adjuvant’s founder and managing partner.
“A number of these assays are long overdue for innovation, and InDevR is at the forefront of applying 21st century technology and creative thinking to drive major improvements in these critical behind-the-scenes biomanufacturing workstreams.
“We hope the Series A financing will help InDevR rapidly scale its public health impact by growing the commercial footprint of the VaxArray platform in influenza vaccines and further expand the menu of essential biologic products that can benefit from faster, less expensive characterization assays.”
“Our partnership with Adjuvant represents the next phase of company growth for us, and we are looking forward to furthering the positive impact on global health that new technologies such as VaxArray can have through process improvements and cost reduction,” said Dr. Kathy Rowlen, InDevR’s CEO and co-founder.
“We are energized to translate this round of financing into products that can streamline the bioprocesses associated with vaccine development and manufacturing."