Abzena has secured $65 million in additional funding to expand its production facilities to meet the increased demand in the industry.
Contract development manufacturing organization (CDMO) Abzena says the latest investment from Welsh, Carson, Anderson & Stowe, and Biospring Partners will allow the firm to meet growing demand by increasing the capacity of its manufacturing capabilities for clinical and commercial supply.
“At Abzena, we put patients at the center of all that we do. This new capital will allow us to develop and manufacture a greater number of novel treatments for more patients. I am delighted to see Abzena grow to become the most innovative and flexible company providing these integrated solutions,” said Jonathan Goldman, CEO of Abzena.
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“We‘re grateful for the support from WCAS and Biospring Partners and their recognition of the urgent need for therapeutic innovation.”
In addition to building out current and new manufacturing facilities, this investment will be used to enhance drug discovery and cell line offerings, add fill/finish and drug product capabilities, as well as completing a biological testing laboratory.
Furthermore, the CDMO will open a manufacturing plant in Sanford, North Carolina during the fourth quarter of this year. Abzena has invested over $200 million at its Sanford plant, which will be dedicated to producing mammalian biologics, as well as creating around 325 jobs in the local area.
According to the firm, the expansion is driven by an increase in customer demand for clinical and commercial scale 2,000 L single-use bioreactors, which are used across a wide range of therapeutic areas.
Additionally, Abzena expanded its biologics offering in October 2020 when the firm opened a $60 million 50,000 square-foot ‘Lusk’ facility in San Diego, California. The plant boasts a process development laboratory, two cGMP manufacturing cleanrooms for 500 L and 2,000 L scale bioreactors, a GMP warehouse, and analytical development and quality control (QC) laboratories, which are used to support late-stage and commercial biologics.