Intabio, a sillicon-valley based company raised a series B funding of $18 million to build its commercial team and make preparations for the launch of its Blaze platform.
FREMONT, CA: Intabio, a sillicon-valley based company raised a series B funding of $18 million. The funding round was led by Northpond Ventures, with additional incoming funds from Genoa Ventures and Vertical Ventures Partners. The consistent participation of the existing investors in the funding round indicated the company’s steady growth. The funds will be used to create Intabio’s commercial team and make preparations for the launch of its Blaze platform.
Intabio, is working on developing analytical solutions for transforming the biotherapeutic development in the U.S. Its manufactured products that provide early product quality characterization and consistent efficiency achieve across all stages of biopharmaceutical development and manufacturing. The blaze system, Intabio’s first product, is a microchip-based instrument system that will deliver identification and detection of subtle protein modifications that can lessen the effectiveness of few biotherapeutic drugs such as recombinant proteins and monoclonal antibodies.
Michael P. Rubin, M.D., Ph.D., Northpond's Founder and CEO, said, "We believe Intabio is in a strong position to accelerate biotherapeutic development by enabling expanded quality monitoring throughout the drug development process. The Intabio team achieved an impressive string of milestones during 2019 and we remain enthusiastic about the company's future as they progress toward commercialization of their first products.”
Blaze platform of Intabio conducts an analysis of biopharmacutical product quality with a bolting speed. Intabio's CEO and co-founder, Lena Wu, Ph.D, included, "We are grateful to receive such steady, enthusiastic support from our investors. We built a strong foundation for our company in 2019, including the issuance of three patents, publication of a seminal paper, launch of our Technical Evaluation Service, and presentation of the first Blaze study by a Biopharma customer. This infusion of capital will fuel the commercial launch of the Blaze system which is eagerly anticipated by customers."