Avite, Inc. Biotech company dedicated to the rapid discovery and development of on-demand affinity purification solutions for the biopharmaceutical industry today announced the closing of its Series C funding NeoMed Management led the financing with the participation of existing investors Polaris Partners, OrbiMed Advisors, SV Life Sciences and Borealis Ventures. Claudio Nessi (NeoMed) joined the Board of Directors of Avitide. The proceeds will accelerate the commercialization of Avitide’s on-demand affinity purification platform, with a focus on biopharmaceutical drug products that include a range of molecules such as proteins, enzymes, antibody-based therapists, recombinant vaccines, gene therapy and biosimilars. The financing is expected to bring the company to profitability in the next two years.
Avitide’s technology enables the company’s partners to quickly discover and develop robust, scalable affinity purification solutions for the most challenging biopharmaceutical products. The Avitide approach reduces program risks and radically improves existing clinical timeframes and economics for commercial bioprocess development and manufacturing.
‘The industry is slowly coming to see Avitide technology as a critical component in the rapid development and production of protein-based therapeutic products,’ said Terry McGuire of Polaris Partners.
‘In the first place, we were skeptical that a very conservative industry would adopt a new purification technology so quickly, but once we saw the data on the partnered programs, we were convinced that Avitide had something transformative. We’re very excited to be part of the Avitide story at such an interesting time,” added Claudio Nessi of NeoMed Management.
‘The era of unpredictable development times, low yields, high costs and low product purity is over – there is now a technical solution to the problem of bioseparation, and Avitide is the leader in this area,’ said Professor Tillman Gerngross, co-founder and chairman of the board of directors of Avitide, who oversaw Series C financing.
‘Avitide has made considerable progress with its platform and is now able to consistently deliver highly selective affinity resins to our partners within a three-month timeframe. We recognize the significant impact Avitide’s technology will have on the biopharmaceutical manufacturing sector, particularly for companies with diverse program portfolios. We are now looking forward to building on our existing partnerships and establishing new relationships to deliver higher technical standards in biopharmaceutical manufacturing,” said Kevin Isett, CEO and co-founder of Avitide.
Avitide, Inc.
Avitide develops and delivers on-demand, molecular-specific biopharmaceutical affinity purification technologies with industry-leading three-month service. Avitide’s service and technology delivers exclusive and proprietary affinity resin that enables our partners to accelerate timelines for the development of bioprocesses, reduce program risks and reduce manufacturing costs by providing cost-effective, highly specific affinity purification solutions. Avitide delivers high-resolution affinity resins that can select and enrich critical drug product profile attributes that are important for safety, potency and efficacy, while providing improved line-of-view, platform operations and predictable commercial scalability. Visit www for more information. Avite Come on,
About management of NeoMed
NeoMed Management is an investment firm focused solely on investment in the healthcare sector. Founded in 1997, NeoMed has set up five funds to date. NeoMed is investing in emerging companies with outstanding growth prospects These companies are developing innovative and proprietary medical products that address significant market opportunities in the pharmaceutical, medical and diagnostic industries. NeoMed has a multi-stage investment approach and invests from start-up to later stage of growth financing at all stages of development. NeoMed’s experienced investment team works closely with entrepreneurs and a wider industry network to support the growth of its portfolio companies.
About Partners of Polaris
Polaris Partners is a partnership of experienced private equity investors, executives and entrepreneurs. The mission of the firm is to identify, invest in and partner with seed, early stage and mid-market enterprises with exceptional promise and to help them grow into market-leading companies. The firm’s got more than $3 5 billion under management, more than 20 investment professionals and current investment in more than 100 companies
About OrbiMed Consultants
OrbiMed is the world’s largest life sciences and healthcare investment firm with approximately $14 billion in assets under management. OrbiMed has successfully invested in more than 140 companies across a wide range of therapeutic categories and development stages. The investment team of OrbiMed includes approximately 60 experienced professionals with backgrounds in science, medicine, industry, finance and law. OrbiMed’s professionals work together using a collaborative, team-oriented approach to support our portfolio companies, which has earned OrbiMed a reputation as the capital provider of choice for life science companies of all ages.
SV Life Sciences
SV Life Sciences is a leading international venture capital firm in life sciences The SVLS team manages five private venture capital funds with approximately $2 billion capital under management. The company employs a diversified strategy in the field of life sciences to selectively capitalize on the growing potential of biotech, medical devices and health services.
Borealis Ventures
Borealis Ventures has been working closely with exceptional entrepreneurs from the earliest stages to build market-defining companies in the life sciences and information technology sectors. Borealis has been the most active venture investor in New Hampshire over the last decade, and its latest fund, the Borealis Granite Fund, is the first venture capital fund dedicated to NH-based opportunities.
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