Abzena Raises 10 Million Growth Capital from Biospring
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Abzena Raises 10 Million Growth Capital from Biospring

By Pharma Tech Outlook | Friday, July 31, 2020

The global partnership between companies will result in a broad network of potential customers, and their expertise will help in the continuing growth of the company.

FREMONT, CA: Abzena, a pioneering global partnership research organization providing integrated discovery, development, and manufacturing of biologics and antibody-drug conjugates (ADCs) trumpets a $10M investment of growth capital from Biospring Partners, a New York-based investment firm. This latest investment will allow Abzena to boost its growth plans.

Abzena drove 80% revenue growth and tripled GMP manufacturing capacity in the first half of 2020. The investment by Biospring Partners is further validation that the integrated model is the future of biologics drug development and manufacturing. Abzena will benefit from Biospring’s access to a broad network of potential customers and their expertise in building and operating growth stage companies. Access to new customer partners and operating expertise is essential for the continuing growth of the company.

Biospring Partners invests in growth-stage life sciences technology companies. Founded in 2020, by Michelle Dipp, the company is focused on firms using technology to drive innovation and efficiency across the life sciences sector. Biospring is also uniquely positioned to partner with life sciences technology companies that have the potential to fundamentally change how they research, diagnose, and treat disease.

Abzena is uniquely positioned to take advantage of the global market opportunity for large molecules as the biopharmaceutical industry increasingly outsources development and manufacturing. Abzena provides a complete set of solutions in integrated early discovery to mid-phase biotherapeutic and bioconjugation drug development and manufacturing in the biopharmaceutical industry. Working with companies and academic groups all over the world, including most of the top 20 biopharmaceutical companies, Abzena supports the development and manufacture of better treatments for patients. The company maintains resources around the world, with facilities in the US and UK.

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