Primrose Bio Secures 1315 Capital Investment to Enhance Next-Gen Therapeutics Manufacturing
SAN DIEGO, June 17, 2024 – Primrose Bio, Inc., a company specializing in the development and licensing of manufacturing technologies for nucleic acids and proteins used in therapeutic and vaccine production, has announced a substantial equity investment from 1315 Capital. This Philadelphia-based growth equity firm focuses on healthcare.
The investment will facilitate the further development and market expansion of Primrose Bio’s key products:
1. Prima RNApols™: These proprietary RNA polymerase enzymes enhance mRNA manufacturing by increasing yields up to fivefold, eliminating double-stranded RNA, and improving cap incorporation when compared to the standard T7 RNA polymerase.
2. Pfenex Expression Technology®: This validated microbial expression system is implemented in five approved drugs and consistently yields 10-20 times more than systems based on E. coli, CHO, and yeast. It also boasts a superior success rate in producing complex proteins.
3. PeliCRM®: This is the sole commercially available CRM197 conjugate vaccine carrier protein found in approved products.
Dr. Helge Zieler, CEO of Primrose, expressed enthusiasm about the partnership with 1315 Capital, stating that their support aligns with Primrose’s vision of expanding biomanufacturing technologies in the pharmaceutical sector. With this investment, Primrose is positioned to advance its solutions for therapeutic protein and nucleic acid manufacturing, benefiting both current large-pharma collaborators and prospective partners.
Matt Reber, Partner at 1315 Capital, highlighted the substantial innovations in therapeutics over recent decades contrasted with the slower progress in production systems. He emphasized that Primrose’s validated technology platforms tackle crucial challenges in the industry, especially as drugs become more complex and pricing pressures increase. Reber expressed excitement about partnering with Primrose as they continue to grow their commercial presence with their proprietary technologies.
About Primrose Bio, Inc.
Primrose Bio was established in 2023 following the merger of Primordial Genetics, Inc. and Pfenex. This merger created a comprehensive technology platform aimed at addressing complex drug manufacturing and design challenges. Primrose’s major products include Prima RNApols, which are enhanced enzymes for mRNA manufacturing; Pfenex Expression Technology, a production system that yields up to 20 times more than other systems and has an unmatched success rate in producing complex proteins; and PeliCRM197, the only commercially available CRM197 conjugate vaccine carrier protein used in approved products.
Several leading pharmaceutical companies, such as Merck, Jazz Pharmaceuticals, Alvogen, Serum Institute of India, Arcellx, and Arcturus, utilize Primrose Bio's technology.
About 1315 Capital
1315 Capital is a private investment firm managing over $1 billion in assets. The firm provides growth capital to commercial-stage companies in healthcare services, pharmaceutical and medical technology outsourcing, medical technology, and health and wellness sectors. 1315 Capital seeks both minority and majority investments in companies with high-quality management teams capable of rapidly scaling platform companies into significant businesses that positively impact patients, physicians, and the overall healthcare system.
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