CaseBioscience joins an ARPA-H effort to develop room-temperature cell therapy preservation, Novartis licenses an mRNA-encoded T-cell engager from Abogen, and AstraZeneca, Daiichi Sankyo, and Summit plan to combine Datroway with ivonescimab.
|Articles|October 28, 2014
Contract Research and Manufacturing Organization Paragon Bioservices Raises $13 Million
Author(s)Randi Hernandez
The company receives backing to continue its work in research services, process development, and cGMP manufacturing activities.
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Contract and manufacturing research organization Paragon Bioservices announced on Oct. 28, 2014 that it has raised $13 million in Series A Preferred Stock financing led by NewSpring Capital and Camden Partners. The partnership will help Paragon, a CRO-CMO that specializes in the production and purification of monoclonal antibodies, recombinant proteins, viral vectors, and vaccines, bring biologic pharmaceuticals to market and accelerate growth.
In a press release, Paragon CEO Marco Chacon said on the company’s role in the partnership, "With 120 highly skilled and dedicated employees—including a multidisciplinary team of scientists—we will leverage our extensive expertise in applied research and process engineering, leading the way in the most challenging and promising areas of preclinical and Phase I and II drug discovery and development."
Paragon’s growth opportunities lie in antimicrobial strategies and food safety, says NewSpring Capital, and Paragon already has a strong position in the vaccine, technology, and biologics markets.
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