Avitide discovers, manufactures and supplies molecule-specific biopharmaceutical affinity purification solutions. Its proprietary affinity separation technology is designed to accelerate bioprocess development timelines, reduce program risk, enable predictable commercial scalability, and lower manufacturing costs for batch and continuous operations. Avitide’s high-resolution affinity resins can be tailored to enrich for improved drug safety, potency, and quality attributes and the company delivers exclusive biomanufacturing intellectual property. The platform has been deployed against enzymes, antibody-based therapeutics, recombinant vaccines, and gene therapies and the company offers an industry-leading 3-month service timeline. The Series E proceeds will be used to fund ongoing operations with a target to reach profitability by 2019. Avitide’s management team brings substantial expertise and the company is financed by several venture firms including Polaris, OrbiMed, Mithril, SV Life Sciences, NeoMed, and Borealis. Avitide is described in the article as a company developing protein therapeutics. The piece links the company to Tillman Gerngross and names Kevin Isett as CEO. The headline and text indicate Avitide returned to the venture market to raise additional capital. A year earlier Isett told the publication that a $7.6 million round would be plenty to take the company to unspecified milestones. The article does not provide operating metrics, product program details, or explicit plans for the new funds. No valuation or financial terms beyond the reported raise are disclosed in the article. Avitide develops an affinity purification and protein-engineering platform designed to produce highly pure, hard-to-replicate biologics and to aid biosimilar development. Its technology separates impurities previously thought impossible to remove and can shrink typical purification processes from five or six steps to one or two, reducing product loss. The platform both enables creation of complex molecules and supports reverse-engineering of existing biologics for biosimilar makers. Avitide was spun out from Dartmouth College in 2013 and is chaired by Tillman Gerngross. The company licenses the technology to biopharma clients and is using recent funding to scale its manufacturing and commercial partnerships. Management says the raise is relatively small for biotech but expects to reach profitability three to four years after launch. Avitide develops customized affinity purification products and a platform to discover affinity purification resins for monoclonal antibodies, therapeutic proteins, and recombinant vaccines. Its technology enables rapid development of highly selective chromatography resins via chemical synthesis rather than costly recombinant proteins. The platform is designed to reduce bioprocess development timelines, program risk, and manufacturing costs by providing turnkey, high-capacity, low-cost affinity resins and single-step purification solutions. Proceeds from the Series A will support further development of the custom affinity purification platform and continued commercial development of affinity resins. The company is led by founders with extensive bioprocessing experience, including Tillman Gerngross, Errik Anderson, Kevin Isett, Warren Kett, and Jonathan Sheller. Avitide will initiate operations in Lebanon, New Hampshire, leveraging the local entrepreneurial and scientific talent near Dartmouth College.

Total raised

$25M

Funding rounds

4

Latest round

Equity

Latest activity

Sep 2016