Rapid Micro Biosystems Secures $60 Million In Equity Financing
Investment to Accelerate Company's Continued Global Commercial Expansion and Product Innovation
LOWELL, Mass., May 02, 2018 (GLOBE NEWSWIRE) -- Rapid Micro Biosystems, the leading provider of automated, growth-based, rapid microbial detection technology for the healthcare product manufacturing sector, announced that it has secured $60 million in equity financing led by new investors Bain Capital Life Sciences and Xeraya Capital. The new funding round also includes a commitment from another new investor, Asahi Kasei Medical, along with continued participation by Longitude Capital, Quaker Partners, TVM Capital, and Richard K. Mellon and Sons. The funding will be used to accelerate global commercial expansion, operational capability and product innovation of Rapid Micro Biosystems' industry-leading rapid microbial detection technology.
Rapid Micro Biosystem's Growth Direct(TM) - the first and only growth-based system to fully automate traditional microbial testing - detects contamination more quickly, delivering compelling economic benefits to manufacturers while improving their quality control operations, securing data integrity processes, and reducing operational risks. Rapid detection of microbial contamination enables manufacturers to reduce inventory carrying costs, shorten manufacturing cycles, and reduce product losses, thereby delivering significant cost savings, improved quality control, operational standardization and increased operational efficiency.
"The new round of investment will fuel significant business growth and strategic capability that will strengthen our ability to serve customers globally," said Robert Spignesi, Chief Executive Officer of Rapid Micro Biosystems. "We are proud to have the additional support and resources of Bain Capital Life Sciences and Xeraya Capital who share our vision for developing disruptive technologies for the healthcare product manufacturing industries."
"We believe Rapid Micro Biosystems is very well-positioned to advance its global footprint due to the company's highly value-added microbiology controls and monitoring products that address mission critical activities in the pharmaceutical manufacturing process," said Jeffrey Schwartz, a Managing Director at Bain Capital Life Sciences. "We are excited to partner with Rob and the management team to continue to provide an automated alternative to the detection methods currently used."
"As organizations increasingly seek to improve operational efficiencies and streamline quality programs to prevent microbial contamination events, the demand for quality control applications and automation will continue to accelerate," said Fares Zahir, Chief Executive Officer of Xeraya Capital. "We remain confident that Rapid Micro Biosystems will continue to be at the forefront of this anticipated increasing demand."
Locust Walk acted as exclusive financial advisor to Rapid Micro Biosystems in this financing round.
About Rapid Micro Biosystems
Rapid Micro Biosystems creates innovative products for fast, accurate, and efficient detection of microbial contamination in the manufacture of pharmaceuticals, biologics, biotechnology products, medical devices, and personal care products. The company's Growth Direct(TM) - the first and only growth-based system to automate traditional microbial testing - detects contamination more quickly, delivering compelling economic benefits to manufacturers while improving their quality control (QC) process. For more information about Rapid Micro Biosystems visit www.rapidmicrobio.com
About Bain Capital Life Sciences
Bain Capital Life Sciences (www.baincapitallifesciences.com) pursues investments in biopharmaceutical, specialty pharmaceutical, medical device, diagnostics and enabling life science technology companies globally. The team focuses on companies that both drive medical innovation across the value chain and enable that innovation to improve the lives of patients with unmet medical needs. Since 1984, Bain Capital has developed global reach, deep expertise and a proven track record in life sciences industries across its Private Equity, Credit, Public Equity and Venture business units. Bain Capital Life Sciences builds on the differentiated skillset and enables the firm to pursue opportunities created by several long-term trends in healthcare.
About Xeraya Capital
Xeraya Capital is a venture capital and private equity firm focused exclusively on Life Sciences investments. From its base in Malaysia, Xeraya's investment activities span the globe with current investments in the US, Europe, and Asia, predominantly in innovative companies to enable breakthrough healthcare and biorenewable products. Beyond capital, the firm leverages its experiences, affiliations, and networks to enable startups' successes. Additional information is available at www.xeraya.com
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Rapid Micro Biosystems via Globenewswire
Om Nasdaq GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York
+1 212 401 8700http://www.nasdaqomx.com
NASDAQ (NASDAQ: NDAQ) is a leading provider of trading, exchange technology, information and public company services across six continents.
Følg saker fra Nasdaq GlobeNewswire
Registrer deg med din epostadresse under for å få de nyeste sakene fra Nasdaq GlobeNewswire på epost fortløpende. Du kan melde deg av når som helst.
Siste saker fra Nasdaq GlobeNewswire
GlobeNewswire Test Release19.5.2018 07:00 | Pressemelding
LOS ANGELES, May 18, 2018 (GLOBE NEWSWIRE) -- This is a test from GlobeNewswire. Readers are advised to disregard. TESTING -- TESTING -- TESTING -- TESTING -- TESTING -- TESTING -- TESTING -- TESTING – -END- CONTACT: Karen Yu Director, GlobeNewswire Product Management Direct: +1 310 258 6917 Mobile: +1 626 389 7427 or Magali Rolandez Senior Manager, Media Relations/Content Distribution Europe Direct: +44 (0) 203 753 2215 Mobile: +44 (0) 7785 619 539
BK Ultrasound, Powered by Analogic, Launches bkSpecto Ultrasound System for Urology at the 2018 American Urological Association Annual Meeting18.5.2018 23:23 | Pressemelding
PEABODY, Mass., May 18, 2018 (GLOBE NEWSWIRE) -- Analogic Corporation (Nasdaq:ALOG), enabling the world's medical imaging and aviation security technology, today announced that it will launch the bkSpecto(TM) ultrasound system at the 113th AUA (American Urological Association) Annual Meeting, May 18-21, in San Francisco. bkSpecto-taken from the Latin word Specto, meaning 'I see'-is BK Ultrasound's all-new ultrasound platform designed for clinical practices. bkSpecto combines BK's advanced auto-optimization algorithms with faster processing to render exceptional anatomical imaging detail with minimal manual adjustment by the user. The system has a unique glass touch-based interface using BK's Tru-Sense(TM) technology to provide 'sightless navigation.' The interface enables tactile feedback with or without gloves, providing an intuitive, self-guided user experience. The interface is also customizable, enabling personalized and faster user workflows. The small footprint of bkSpecto makes
Brookfield Asset Management Announces Renewal of Normal Course Issuer Bid18.5.2018 12:55 | Pressemelding
TORONTO, May 18, 2018 (GLOBE NEWSWIRE) -- Brookfield Asset Management Inc. (NYSE:BAM) (TSX:BAM.A) (EURONEXT:BAMA) ("Brookfield") today announced it has received approval from the Toronto Stock Exchange ("TSX") for the renewal of its normal course issuer bid to purchase up to 82,315,909 Class A Limited Voting Shares ("Class A Shares"), representing 10% of the public float of Brookfield's outstanding Class A Shares. Purchases under the bid will be made through the facilities of the TSX, the New York Stock Exchange ("NYSE") and any alternative Canadian trading system. The period of the normal course issuer bid will extend from May 24, 2018 to May 23, 2019, or an earlier date should Brookfield complete its purchases. Brookfield will pay the market price at the time of acquisition for any Class A Shares purchased. As at May 1, 2018, the number of Class A Shares issued and outstanding totalled 991,857,711, of which 823,159,095 shares represented the public float. In accordance with the rules
Skybox Security and Exclusive Networks Announce New Partnership for Middle East Distribution of the Skybox Security Suite17.5.2018 18:41 | Pressemelding
The cybersecurity management platform ensures networks remain secure and compliant as organisations migrate to cloud and merge networks SAN JOSE, Calif., May 17, 2018 (GLOBE NEWSWIRE) -- Skybox(TM) Security, a global leader in cybersecurity management, announced today a new partnership with Exclusive Networks for distribution of Skybox solutions in the Middle East, including the Gulf Cooperation Council (GCC) region and Egypt. Exclusive Networks will deploy and service the Skybox(TM) Security Suite, a broad security management platform that provides comprehensive attack surface visibility and enables unified vulnerability management and firewall/security policy management across an organization's entire network, including in physical, multi-cloud and OT environments. "Driven by government outlays (with oil, gas and defence industries leading the charge), Middle East organisations are looking for trusted security advisors who can navigate digital transformations and reduce risks - espec
Dermatological Symposium Tackles the Effects of Pollution on Skin17.5.2018 16:03 | Pressemelding
Researchers Present Compelling Evidence Showing the Effects of Pollution on Skin Health at Symposium Sponsored by Mary Kay Inc. DALLAS, May 17, 2018 (GLOBE NEWSWIRE) -- Mary Kay Inc. announced four keynote speakers for its symposium to be held during the prestigious International Investigative Dermatology (IID) Meeting on May 16 to 19, 2018 in Orlando, Florida. The IID meeting occurs once every 5 years, and brings together scientists from across the globe, highlighting the latest in cutting edge science in dermatology. The Mary Kay sponsored Symposium features four global experts including Dr. Liang Liu, Assistant Professor of Dermatology, Columbia University; Dr. Max Costa, Professor and Chairman of the department of Environmental Medicine, New York University School of Medicine; Dr. Jean Krutmann, Chair of Environmental Medicine at the Medical Faculty of Heinrich Heine University Düsseldorf and Director of the Leibniz Research Institute of Environmental Medicine in Dusseldorf, German
Talend Opens Nomination Period for Data Masters Awards17.5.2018 14:21 | Pressemelding
Annual Program Showcases Customers' Innovative Use of Cloud Technologies for Digital Transformation REDWOOD CITY, Calif., May 17, 2018 (GLOBE NEWSWIRE) -- Talend (NASDAQ: TLND), a global leader in cloud and big data integration solutions, officially opened the submission period for its fourth annual Data Masters Awards. This program celebrates companies using Talend solutions in innovative, forward-thinking ways to put more data to work and enable more informed and impactful business decisions. Organizations interested in nominating a project can complete an official entry form here. Finalists will be chosen from Talend's more than 1,500 global customers representing large enterprises and private firms across all major industries including banking and insurance, consumer goods, healthcare, manufacturing and retail. Past award recipients include some of the world's best-known brands including: AIG, Air France/KLM, Beachbody, Citi, Credit Agricole Consumer Finance, GE Healthcare, HERMES
I vårt presserom finner du alle våre siste saker, kontaktpersoner, bilder, dokumenter og annen relevant informasjon om oss.Besøk vårt presserom