BioFactura, Inc., a biopharmaceutical research and manufacturing company, announced today the closing of a $1.8M Series A round of financing. Healthy investor interest drove significant oversubscription of the original $1.5M target. The funds will be used to advance a portfolio of generic biologics, known as biosimilars, to the advanced preclinical stages.
Chief Executive Officer and President, Darryl Sampey founded BioFactura in 2004 as a research and development firm focused on biodefense medical countermeasures for the government. The company's research has led to BioFactura's core competency in the development of stable manufacturing cell lines for production of therapeutic protein-based drugs with a focus on monoclonal antibodies. In parallel with the Series A fundraising and in preparation for advanced drug development, BioFactura opened a new 5,500+ sq. ft. headquarters and R&D/manufacturing facility in the Riverside Research Park located in Frederick, MD. This expansion adds significant capabilities to BioFactura in cell line and bioprocess development as well as cGMP Phase I manufacturing at the 250-liter bioreactor scale with all single-use processes. With BioFactura's continuing commercialization of its patented StableFast™ Biomanufacturing Platform, the Company is well positioned well to bring both biosimilar and novel antibody drugs to market with shorter timelines, lower costs and superior quality manufacturing methods. To date, BioFactura has raised over $10M in funding including two Congressional Special Projects, and has successfully transitioned a novel monoclonal antibody therapeutic against smallpox from research to the Pre-Investigational New Drug application stage.
With BioFactura's unique patented platform, the Company is rapidly expanding into the growing US Market for biosimilars. 'With the Food and Drug Administration recently approving the first biosimilars drugs for use in the US, biosimilars are rapidly becoming the next wave for pharmaceutical manufacturers. Biosimilars are generic biologics which have the potential for broader patient access and significant savings to the US healthcare system,' said CEO and President, Darryl Sampey.
BioFactura's Chairman of the Board and Chief Medical Officer, Dr. Jeffrey Hausfeld, said, 'There are only a few instances where you see the intersection of a high priority unmet need, coupled with an innovative technology and capable team that can deliver a defined solution. Biologics are highly effective medications that have helped scores of patients and potentially achieve cost savings over branded biologics. BioFactura has the capability to efficiently produce high value generic versions of these drugs thereby improving access, reducing costs and potentially enhancing outcomes. This, combined with the company's continuing novel drug development programs, make it an investment that I am honored to champion, both for our investors as well as the patients we care for.'
About BioFactura Leadership
President and Chief Executive Officer, Darryl Sampey has experience in intellectual property maintenance, contract research and development, platform technology programs, and biopharmaceutical product development. Prior to starting BioFactura, he led both process development and manufacturing teams at Human Genome Sciences, Inc. (HGS) developing new biologics processes and control strategies. Mr. Sampey played key roles in the start-up, commissioning, and validation of HGS' first cGMP manufacturing facility and associated development laboratories. In 2015, Mr. Sampey expanded BioFactura's leadership team with the addition of Dr. Jeffrey Hausfeld.
As Chairman of the Board and Chief Medical Officer, Dr. Jeffrey Hausfeld brings a wealth of knowledge to BioFactura as a retired surgeon, entrepreneur and investor. Dr. Hausfeld's ventures include developing assisted living facilities specializing in Alzheimer's and memory care; consulting for multiple healthcare/life science startups in diagnostics, devices, biotech and Health IT; and serving as the Managing Director of FMS Financial Solutions, a national debt collection and debt acquisition firm specializing in medical and multi-family housing debt collection. Dr. Hausfeld is the Chairman and Founder of the Society of Physician Entrepreneurs (http://www.sopenet.org), a global network focused on educating healthcare and life science professionals in Bioentrepreneurship and Innovation.