Virica Biotech Raises Series A Funding and Expands Operations to Support Manufacturing of Viral Drugs by Customers
OTTAWA, Ontario – (COMMERCIAL THREAD) – Virica Biotech Inc., a leading developer of life science solutions for scaling viral drugs, today announced the first close of its Series A funding. The round, lead by Dynamk Capital, is expected to close with additional investors by the end of Q4-2021. The investment reinforces Virica’s already impressive growth trajectory, as it prepares to become a leading manufacturing partner for global producers of viral drugs. The investment will be used to expand Virica’s operations with the opening of a new laboratory, which is part of the Ottawa Center for Health Innovation. Watch the inauguration here.
“Most of the new effective treatments for cancer, rare diseases and infections are made possible by advances in viral drugs and the demand for these new therapies is now outstripping production,” said Jean-Simon Diallo, CEO and co- founder of Virica. Biotechnologies. “This investment accelerates our ability to help businesses and organizations overcome production deficits and improve the effectiveness of their viral therapies, cell therapies and vaccine candidates. ”
“Innovators and contracted development and manufacturing companies find it difficult to reliably produce sufficient quantities of their vaccines and gene therapies,” said Daniella Kranjac, founding partner of Dynamk Capital. “We are delighted to partner with the Virica team, who are seizing the huge opportunity to reduce bottlenecks for viral drug makers, so more patients have access to essential medicines.
Dynamk Capital is a growth and venture capital firm focused on the life sciences industries. Dynamk’s investment strategy is focused on identifying companies developing disruptive technologies, tools and services that enable the full biopharmaceutical continuum through the discovery, development and manufacture of biotherapeutics, including therapies. cells and genes and vaccines. Visit dynamk.vc for more information.
Virica optimizes the manufacture of viral drugs, allowing developers to economically deploy their products at scale. Virica’s Virica Sensitizer (VSE ™) platform reduces production inefficiencies caused by innate antiviral defenses in manufacturing cells. Customizable VSE cocktails dramatically increase manufacturing efficiencies and lower the cost of goods for a range of products, including vaccines, cell and gene therapies, and cancer therapies. Visit viricabiotech.com for more information.
This press release contains “forward-looking statements”, which reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects. Forward-looking statements involve important known and unknown risks, uncertainties and assumptions.