Ori Biotech today announced the close of a $30 million Series A financing round, bringing the company’s total funding to date to $41 million.
The funding will be used to help bring Ori’s manufacturing platform to the market. The Ori platform is designed to delivers scalable solution for the clinical and commercial manufacturing needs of CGT developers.
Northpond and Octopus invested alongside support from Ori’s existing institutional investors, Amadeus Capital Partners, Delin Ventures and Kindred Capital.
Ori's bespoke platform was designed to address requirements of personalised cell and gene therapies. By automating and standardising CGT manufacturing in a closed platform, Ori aims to help therapeutics developers scale from pre-clinical process development to commercial-scale manufacturing. It says its flexible platform enables increased throughput, improved quality and decreased costs.
“Closing a significant Series A round, during these uncertain times, further validates Ori’s disruptive approach to fully automating cell and gene therapy manufacturing to increase throughput, improve quality and decrease costs,” said Jason C. Foster, CEO of Ori Biotech. “We are excited to work with our top tier investors and development partners to bring our platform to market as fast as possible to achieve our mission of enabling patient access to life-saving cell and gene therapies.”
“As early investors in disruptive life sciences platform technology companies, we have seen how cutting-edge technologies like Ori’s can bring significant value to the industry and lead to breakthroughs for patients,” said Michael Rubin, Founder and CEO of Northpond Ventures. “We believe that the Ori team has developed a truly innovative technology that can enable millions of patients to gain access to these important treatments.”
