LSP Participates in $10 million Series C investment in BioProcessors
LSP BioVentues announces today that it has lead the closing of a $10 million Series C equity investment round in BioProcessors Corporation, the leading provider of micro-engineered solutions for biopharmaceutical process
development applications for the biotechnology and pharmaceutical industries. LSP joined existing investors Oxford Bioscience Partners, HLM Venture Partners, Healthcare Ventures, and New Science Ventures who also participated
in this financing round.
BioProcessorsâ€™ SimCell platform is the first fully-integrated cell culture experiment management system for bioprocess development capable of generating data scalable to large-scale bioreactors. SimCellâ€™s solutions allow customers to
increase their cell culture experimental capacity by at least a factor of 100 over traditional bench-top equipment, enabling thousands of experiments to be completed in parallel. In addition to increased efficiency, SimCell also provides better
data quality, reduces risk and lowers operating costs associated with conventional processing methods. This market leading system is coupled with proprietary software that allows for the robust storage and analysis of the large
experimental data sets generated by the platform. BioProcessorsâ€™ clients include leading biotechnology and pharmaceutical companies such as Amgen, Novo Nordisk and Invitrogen.
"We are looking forward to LSP joining the BioProcessors investment partners, and with this round of financing being able to execute on our global sales and marketing plan," said Jon Rennert, CEO of BioProcessors. "We value their
belief in our company and our ability to provide a solution for a long standing problem in the biotechnology industry."
Dr. Fouad Azzam, General Partner at LSP BioVentures, commented: "We are very excited about joining the existing investor base at BioProcessors. The company has proven that they have a solution for a long standing problem in the
biotechnology industry, and provide significant value for their customers."'
Based in Woburn, MA, BioProcessors Corporation was founded in October, 2000 by Andrey J. Zarur, Ph.D. BioProcessorsâ€™ SimCell solutions provide biotechnology and pharmaceutical companies with a proven platform to exponentially increase experimental throughput and to enable scalability to production bioreactors at optimized yields. For more information, please visit www.bioprocessors.com.
About LSP BioVentures
LSP BioVentures is a US based life science fund which was launched in June 2006. The fund invests primarily in early to mid-stage product and platform companies covering a variety of sectors including: agriculture, food & nutrition, health & wellness, Cleantech and platform technologies. LSP BioVentures is the fourth fund under the LSP Group.
LSP Group provides private equity financing to early- to mid-stage life-science companies in Europe and the US. With over $500 million under management and offices in Amsterdam, Munich and Boston, LSP Boston, LSP has over two decades of experience as specialist life-science investors. For more information about the LSP Group, please visit our website at www.lspvc.com.