PBS Biotech Inc., the manufacturer of the single-use bioreactors, has reportedly raised a private funding round of USD 10 million with BroadOak Capital Partners. The round will allow the company to industrialize and expand its portfolio of contract process development services and single-use bioreactor systems.
Bill Snider, a Partner at BroadOak Capital Partners, supposedly commented that cell therapies are a representation of an archetypical shift that allows durable cures for the existing untreatable diseases. He opined that the company is well-positioned to allow scalable production of stem cells in this emerging sector and added that BroadOak is delighted to collaborate with PBS for its first Fund V investment.
PBS Biotech uses exclusive Vertical-WheelTM tech to attain unique environmental conditions and mixing properties for cell therapy products, which are superior to conventional stirred-tank bioreactors in numerous published studies.
Additionally, the company possesses an in-house bioprocess research & development facility for offering development services and process expertise to aid consumers of cell therapy in upscaling from the research phase to the clinical & commercial phase.
The Chief Executive Officer of PBS Biotech, Brian Lee, apparently stated that the company is delighted to attain this business milestone at the right time. With the backing of BroadOak, PBS will be able to deliver on its vision of becoming a global standard allogeneic cell therapy manufacturing platform. This starts with a complete line of GMP-qualified bioreactor systems to bolster the clinical studies and commercialization requirements of its consumers.
Over 200 consumers ranging from large-scale production groups to small-scale research & development groups use PBS Biotech systems. The scalable and unique conditions allowed by these bioreactor systems are ideal for a wide range of therapy products that are specifically suitable for iPSC (induced pluripotent stem cell), exosome-based, and MSC (mesenchymal stem cell) therapy production.
Companies in this sector are looking for cures for heart diseases and diabetes among others using these advanced regenerative medicines.