Single-use bioreactor manufacturer, PBS Biotech, recently closed a private $10M funding round with BroadOak Capital Partners. The financing will enable the company to expand and industrialize its portfolio of single-use bioreactor systems and contract process development services.
The full press release is below.
PBS Biotech Raises $10M to Provide Scale-Up Manufacturing Solutions for Cell Therapies
PBS Biotech, a leading provider of cell therapy manufacturing equipment and processes, secures its largest funding round to date to grow its product offerings and capabilities.
CAMARILLO, Calif.–(BUSINESS WIRE)–Single-use bioreactor manufacturer, PBS Biotech, recently closed a private $10M funding round with BroadOak Capital Partners. The financing will enable the company to expand and industrialize its portfolio of single-use bioreactor systems and contract process development services.
“Cell therapies represent a paradigm shift that enable durable cures for today’s untreatable diseases. PBS Biotech is well-positioned to enable scalable manufacturing of stem cells in this emerging space, and we are proud to partner with them for the first investment of BroadOak’s Fund V,” said Bill Snider, Partner, BroadOak Capital Partners.
PBS Biotech utilizes proprietary Vertical-WheelTM technology to achieve unique mixing properties and environmental conditions for cell therapy products, which have proven superior to traditional “stirred-tank” bioreactors in multiple published studies. In addition, the company boasts an in-house bioprocess R&D facility to offer process expertise and development services to assist cell therapy customers in scaling up from research phases to clinical and commercial phases.
Brian Lee, CEO of PBS Biotech, said that: “We are excited to have this business milestone accomplished at the perfect time. With the support of BroadOak, PBS Biotech will deliver on our vision of becoming the world’s standard manufacturing platform for allogeneic cell therapies, starting with a full line of GMP-qualified bioreactor systems to support the clinical studies and commercialization needs of our customers.”
PBS Biotech systems are used by over 200 customers ranging from small-scale research and development groups to large-scale manufacturing groups. While the unique and scalable conditions enabled by these bioreactor systems are ideal for a wide range of therapeutic products, they are particularly well-suited for induced pluripotent stem cell (iPSC), mesenchymal stem cell (MSC), and exosome-based therapy manufacturing. Companies in this space are seeking cures for diabetes and heart disease, among others, utilizing these novel regenerative medicines.
PBS Biotech will look to secure and expand its product line over the next several years to support existing and future customers through clinical trials to commercialization. Achieving this will cement the company’s position as a global leader in this nascent industry and result in life-changing therapies for patients in the coming years.