Intabio Closes $18 Million Round in Series B Funding
February 06, 2020
NEWARK, Calif. /PRNewswire/ -- Intabio, a developer of instrumentation systems for biotherapeutic precision analysis and quality assessment throughout bioproduction, announced a Series B investment of $18 million. The financing round was led by Northpond Ventures, with additional funds coming from Genoa Ventures and Vertical Venture Partners. In a testament to Intabio's steady progress, the step-up valuation financing round was fully subscribed by existing investors. The funds will be used to build Intabio's commercial team and prepare for launch of its Blaze™ platform.
"We believe Intabio is in a strong position to accelerate biotherapeutic development by enabling expanded quality monitoring throughout the drug development process," said Michael P. Rubin, M.D., Ph.D., Northpond's Founder and CEO. "The Intabio team achieved an impressive string of milestones during 2019 and we remain enthusiastic about the company's future as they progress toward commercialization of their first products."
Intabio's Blaze™ platform performs a comprehensive analysis of biopharmaceutical product quality with blazing speed, offering 100-fold higher throughput over traditional methods. Testing of beta systems by major Biopharma groups is scheduled to begin in the second quarter of 2020, with full commercial introduction slate for late 2020.
"We are grateful to receive such steady, enthusiastic support from our investors," said Intabio's CEO and co-founder, Lena Wu, Ph.D. "We built a strong foundation for our company in 2019, including the issuance of three patents, publication of a seminal paper, launch of our Technical Evaluation Service, and presentation of the first Blaze study by a Biopharma customer. This infusion of capital will fuel the commercial launch of the Blaze system which is eagerly anticipated by customers."
Intabio, Inc. is a Silicon Valley-based company developing analytical solutions to transform biotherapeutic development and manufacturing with products that provide early product quality characterization and profound efficiency gains across all stages of biopharmaceutical development and manufacturing. Intabio's first product, the Blaze system, is a microchip-based instrument system that will provide rapid detection and identification of subtle protein modifications - modifications that can undermine the stability and efficacy of biotherapeutic drugs such as monoclonal antibodies and recombinant proteins.