Rapid Micro Biosystems announced today that it has successfully received backing from lead investors Longitude Capital and TPG Biotech. The round, which also included Kleiner Perkins, Caufield & Byers, TVM Capital, and Quaker Partners, amounted to a total of $32.6 million.
Dr. Mark Braganza, principat at TPG Biotech, and Dr. David Hirsch, Longitude's managing director, will join Rapid Micro Biosystems' board of directors as part of the investment.
The company, which provides quality control solutions in the pharmaceutical manufacturing industry, is headquartered in Bedford, Massachusetts.
Braganza commented on the financing, saying "We are excited to be part of a company that offers such a compelling value proposition - both in automation and testing speed - to pharmaceutical, biotech and personal care product companies."
The company's The Growth Direct system offers "an innovative approach to microbial detection and enumeration" according to Rapid Micro Biosystems.
President and Chief Executive Officer of Rapid Micro Biosystems Steve Delity said, "Our new investment partners, along with our current investors, position Rapid Micro Biosystems to meet the customer requirements for automated microbial detection and enumeration."
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