PBS Biotech Raises $22M to Expand Single-Use Manufacturing Products and Services for Cell Therapy Clients
Summary
This financing will be used to improve the companys products portfolio, expand its process development services capability, and increase customer support for global cell therapy clients. Avego is thrilled to partner with Dr. Lee and the leadership team at PBS to support the continued growth of one of the leading technology and service providers in the cell therapy space," said Jerry Liao. "Compared to traditional "stirred-tank" systems, PBS Vertical-Wheel\xae bioreactors have demonstrated superior performance of therapeutic cell production in multiple published studies. Companies in this space are developing novel regenerative medicines as potential cures to life threatening conditions such as diabetes, cancer, and heart disease and recognize the need for a scalable manufacturing platform for commercial demands.Stradling Yocca Carlson & Rauth acted as legal counsel for PBS, Sheppard, Mullin, Richter & Hampton LLP acted as legal counsel for Avego, and Cooley LLP acted as legal counsel for BroadOak.PBS Biotech is a leading manufacturer of single-use bioreactor systems and provider of process development services. To learn more, visit pbsbiotech.com.Avego, founded in 2015 by former healthcare entrepreneurs, is a multi-strategy healthcare-focused investment firm with offices in New York and Georgia.