Primrose Bio Announces Investment from 1315 Capital to Advance Manufacturing Solutions for Next-Generation Therapeutics
2024-06-17
SAN DIEGO, June 17, 2024 /PRNewswire/ -- Primrose Bio, Inc. ("Primrose," the "Company"), a company focused on developing and licensing its manufacturing technologies for nucleic acids and proteins used in therapeutics and vaccines, announced a significant equity investment from 1315 Capital, a Philadelphia-based, healthcare-focused growth equity firm.
These funds will enable the continued development and commercial expansion of its three major offerings:
Prima RNApols™: proprietary RNA polymerase enzymes that significantly improve mRNA manufacturing by improving yields up to 5x, eliminating double-stranded RNA, and enhancing cap incorporation compared to the currently used T7 RNA polymerase standard.
Pfenex Expression Technology®: a validated microbial expression system used in five approved drugs which consistently shows 10-20x higher yields over E.coli, CHO, and yeast-based systems as well as an unparalleled success rate in complex proteins.
PeliCRM®: the only commercially available CRM197 conjugate vaccine carrier protein used in approved products.
"We are thrilled to have the support of such a high-quality organization and team at 1315 Capital who share our vision of expanding opportunities in biomanufacturing technologies for the pharmaceutical industry," said Dr. Helge Zieler, CEO of Primrose. "With this investment, we are well-positioned to advance our therapeutic protein and nucleic acid manufacturing solutions with our existing large-pharma collaborators and future partners."
"There has been a tremendous amount of innovation in therapeutics over the last decades, and relatively little in their production systems. Primrose's validated technology platforms address an increasingly important challenge facing the industry as drugs get more complex, and pricing pressure continues to mount," said Matt Reber, Partner at 1315 Capital. "We are excited to partner with Primrose as they continue to expand their commercial reach with their suite of proprietary technologies."
About Primrose Bio, Inc.
Primrose Bio was formed in 2023 through the merger of Primordial Genetics, Inc. and Pfenex to create an integrated end-to-end technology platform for solving complex drug manufacturing and design challenges. Primrose major offerings include Prima RNApols: improved enzymes for mRNA manufacturing, Pfenex Expression Technology: a validated production system with up to 20x higher yields over other systems and an unparalleled success rate in making complex proteins, and PeliCRM197: the only commercially available CRM197 conjugate vaccine carrier protein used in approved products. Several of the world's leading pharmaceutical companies use Primrose Bio's technology, including Merck, Jazz Pharmaceuticals, Alvogen, Serum Institute of India, Arcellx, Arcturus and others. For more information, please visit www.primrosebio.com.
About 1315 Capital
1315 Capital is a private investment firm with over $1 billion of assets under management that provides growth capital to commercial-stage healthcare services, pharmaceutical & medical technology outsourcing, medical technology, and health & wellness companies. 1315 Capital targets both minority and majority investments in companies where high-quality management teams can rapidly scale platform companies into large and important businesses that positively impact patients, physicians, and the broader healthcare system. For more information, please visit www.1315capital.com.
SOURCE Primrose Bio
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