Rapid Micro Biosystems Secures $60 Million In Equity Financing
Investment to Accelerate Company's Continued Global Commercial Expansion and Product Innovation
LOWELL, Mass., May 02, 2018 (GLOBE NEWSWIRE) -- Rapid Micro Biosystems, the leading provider of automated, growth-based, rapid microbial detection technology for the healthcare product manufacturing sector, announced that it has secured $60 million in equity financing led by new investors Bain Capital Life Sciences and Xeraya Capital. The new funding round also includes a commitment from another new investor, Asahi Kasei Medical, along with continued participation by Longitude Capital, Quaker Partners, TVM Capital, and Richard K. Mellon and Sons. The funding will be used to accelerate global commercial expansion, operational capability and product innovation of Rapid Micro Biosystems' industry-leading rapid microbial detection technology.
Rapid Micro Biosystem's Growth Direct(TM) - the first and only growth-based system to fully automate traditional microbial testing - detects contamination more quickly, delivering compelling economic benefits to manufacturers while improving their quality control operations, securing data integrity processes, and reducing operational risks. Rapid detection of microbial contamination enables manufacturers to reduce inventory carrying costs, shorten manufacturing cycles, and reduce product losses, thereby delivering significant cost savings, improved quality control, operational standardization and increased operational efficiency.
"The new round of investment will fuel significant business growth and strategic capability that will strengthen our ability to serve customers globally," said Robert Spignesi, Chief Executive Officer of Rapid Micro Biosystems. "We are proud to have the additional support and resources of Bain Capital Life Sciences and Xeraya Capital who share our vision for developing disruptive technologies for the healthcare product manufacturing industries."
"We believe Rapid Micro Biosystems is very well-positioned to advance its global footprint due to the company's highly value-added microbiology controls and monitoring products that address mission critical activities in the pharmaceutical manufacturing process," said Jeffrey Schwartz, a Managing Director at Bain Capital Life Sciences. "We are excited to partner with Rob and the management team to continue to provide an automated alternative to the detection methods currently used."
"As organizations increasingly seek to improve operational efficiencies and streamline quality programs to prevent microbial contamination events, the demand for quality control applications and automation will continue to accelerate," said Fares Zahir, Chief Executive Officer of Xeraya Capital. "We remain confident that Rapid Micro Biosystems will continue to be at the forefront of this anticipated increasing demand."
Locust Walk acted as exclusive financial advisor to Rapid Micro Biosystems in this financing round.
About Rapid Micro Biosystems
Rapid Micro Biosystems creates innovative products for fast, accurate, and efficient detection of microbial contamination in the manufacture of pharmaceuticals, biologics, biotechnology products, medical devices, and personal care products. The company's Growth Direct(TM) - the first and only growth-based system to automate traditional microbial testing - detects contamination more quickly, delivering compelling economic benefits to manufacturers while improving their quality control (QC) process. For more information about Rapid Micro Biosystems visit www.rapidmicrobio.com
About Bain Capital Life Sciences
Bain Capital Life Sciences (www.baincapitallifesciences.com) pursues investments in biopharmaceutical, specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies globally. The team focuses on companies that both drive medical innovation across the value chain and enable that innovation to improve the lives of patients with unmet medical needs. Since 1984, Bain Capital has developed global reach, deep expertise and a proven track record in life sciences industries across its Private Equity, Credit, Public Equity and Venture business units. Bain Capital Life Sciences builds on the differentiated skillset and enables the firm to pursue opportunities created by several long-term trends in healthcare.
About Xeraya Capital
Xeraya Capital is a venture capital and private equity firm focused exclusively on Life Sciences investments. From its base in Malaysia, Xeraya's investment activities span the globe with current investments in the US, Europe, and Asia, predominantly in innovative companies to enable breakthrough healthcare and biorenewable products. Beyond capital, the firm leverages its experiences, affiliations, and networks to enable startups' successes. Additional information is available at www.xeraya.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Rapid Micro Biosystems via Globenewswire
Följ NASDAQ OMX
Abonnera på våra pressmeddelanden.
Senaste pressmeddelandena från NASDAQ OMX
Greater Anglia Selects PowerPlan to Optimise Its Asset Investments17.7.2018 15:29 | Pressmeddelande
ATLANTA, July 17, 2018 (GLOBE NEWSWIRE) -- Greater Anglia, a UK-based train operating company, has selected PowerPlan's Asset Investment Optimization software suite to maximise its asset investments over a 40-year time period. Greater Anglia's long-term investment strategy includes a 40-year asset plan to meet its regulatory requirements. For what was historically built with manual processes and not easily tracked, the Asset Investment Optimization solution from PowerPlan will provide a comprehensive, auditable approach to help the company analyze different investment scenarios for impacts to risk, cost, timing and level of service and provide a defendable asset plan for the next four decades. "The condition of our assets drives our business," said Richard Turner, Head of Asset Management for Greater Anglia. "With PowerPlan, we can apply a fact-based methodology to prioritise investments, maximise their return and produce plans that communicate our asset strategy to internal and extern
Oxford Immunotec Schedules Second Quarter 2018 Earnings Release and Conference Call for July 31, 201817.7.2018 14:30 | Pressmeddelande
OXFORD, United Kingdom and MARLBOROUGH, Mass., July 17, 2018 (GLOBE NEWSWIRE) -- Oxford Immunotec Global PLC (Nasdaq:OXFD), a global, high-growth diagnostics company, today announced that it plans to release second quarter 2018 financial results prior to market open on Tuesday, July 31, 2018. Dr. Peter Wrighton-Smith, Chief Executive Officer, and Rick Altieri, Chief Financial Officer, will host a conference call to review the Company's results at 8:00 a.m. Eastern Time the same day. The call will be concurrently webcast. To listen to the conference call on your telephone, please dial (855) 363-5047 for United States callers or +1 (484) 365-2897 for international callers and reference confirmation code 9268558, approximately ten minutes prior to start time. To access the live audio webcast or subsequent archived recording, visit the Investor Relations section of Oxford Immunotec's website at www.oxfordimmunotec.com. The replay will be available on the Company's website for approximately
SolarWinds Deepens Infrastructure Visibility with Log Manager for Orion17.7.2018 12:30 | Pressmeddelande
New log management solution delivers integrated, comprehensive event log management, collection, and consolidation to boost time-to-resolution AUSTIN, Texas, July 17, 2018 (GLOBE NEWSWIRE) -- SolarWinds, a leading provider of powerful and affordable IT management software, today announced SolarWinds®Log Manager for Orion®, a new, powerful log management tool for on-premises IT environments. Fully integrated with the SolarWinds Orion Platform, Log Manager is designed to provide the essential components an IT operations team needs for improved log monitoring, troubleshooting, and performance management. While IT infrastructure generates vast amounts of log data each day-from syslogs to SNMP traps and Windows® events-the responsibility of evaluating the information to determine which is most valuable falls on the shoulders of technology professionals. Log Manager, the latest addition to the larger SolarWinds network and systems management portfolio, is designed to provide integrated log m
SD-WAN Market Leader Aryaka Further Expands within Canada to Help Global Enterprises to Accelerate Digital Transformation Strategies17.7.2018 11:19 | Pressmeddelande
SAN MATEO, Calif., July 17, 2018 (GLOBE NEWSWIRE) -- Aryaka®, the leading global SD-WAN provider, announced today it has further expanded its worldwide network with the addition of a new Point of Presence (POP) in Toronto, Canada. This investment was spurred by a rapidly growing presence of global enterprises with sites in Canada who, as part of their digital transformation initiatives, are looking for better application performance, multi-cloud connectivity, and security from their network. With the deployment of its POP in Canada, Aryaka extends its SD-WAN as-a-Service into this region and can now offer it directly to Canadian enterprises. As over 70% of Aryaka's business comes through channel partners, this expansion will further enable their success in meeting the connectivity, application performance, and digital transformation needs of their global enterprise customers. "We are thrilled to further expand our network and market footprint in Canada and improve the performance of Ar
Notice of Arbitration Filed Against State of Kuwait16.7.2018 21:46 | Pressmeddelande
Attorneys for international business executive file notice of arbitration claiming violation ofinternational law by Kuwaiti courts London, United Kingdom, July 16, 2018 (GLOBE NEWSWIRE) -- Crowell & Moring LLP, counsel for Marsha Lazareva, a prominent member of the international business community, has filed a notice of international arbitration with the State of Kuwait for breaching a bilateral investment treaty in violation of international law. The notice follows a series of erroneous charges against Lazareva by the Kuwait Prosecutor General that have resulted in her prolonged imprisonment. The notice states that the charges against Ms. Lazareva, a Russian citizen, are part of a coordinated campaign to damage her reputation as a successful businesswoman and diminish the value of her investments. It also cites Kuwait for violating a longstanding bilateral investment treaty with Russia: the Agreement between the Russian Federation and the State of Kuwait on the Encouragement and Mutua
Two London ex-Bankers launch first UK regulated Digital Asset Trading Platform and Crypto exchange accessible to Institutional Investors16.7.2018 17:37 | Pressmeddelande
LONDON, July 16, 2018 (GLOBE NEWSWIRE) -- UK's first native crypto exchange platform is on its way to become a reality. Sovren Exchange, a venture founded by a team of London-based banking executives, has announced an Initial Coin Offering (ICO) to begin Q3 of this year. For their launch, Sovren (SVRN) is raising a maximum of 10 Million USD (combination of Equity Funding and its own Sovren Token) to create a hybrid order book and brokerage exchange platform that uses a trading engine supported by Artificial Intelligence (AI) and Robotic Process Automation (RPA). Sovren will have a fully compliant platform that will support trading in derivates, equities, commodities and securities. The platform will use intelligent automation to address liquidity challenges and a 3rd party custodial service for additional protection with a European Bank. Sovren is supporting trading between all major crypto assets and fiat currencies like pounds, euros, and dollars, aiming for same day service and low,
I vårt pressrum kan du läsa de senaste pressmeddelandena, få tillgång till pressmaterial och hitta kontaktinformation.Besök vårt pressrum