Rapid Micro Biosystems, a leading provider of automated, non-destructive, rapid microbial detection for quality control testing of pharmaceutical and personal care products, today announced that it closed on additional funding from its existing investors on April 1, 2014. The funding will be used to expand the commercial and manufacturing operations in support of the Growth Direct(TM) System and the companion applications including: environmental monitoring, sterility and bioburden testing. Providing faster results from quality control testing allows drugs and vaccines to be produced and released more quickly, economically and safely.
This financing round featured continued participation from the existing investors; Kleiner Perkins Caufield & Byers, Longitude Capital, Quaker Partners, TPG Biotech, and TVM Capital.
"Securing the additional funding allows the company to implement our commercialization plans which will support our customers' global adoption of the Growth Direct(TM) technology," said Steve Delity, President and CEO.
Growth Direct(TM) is the only system on the market where all microbial testing can be run both concurrently and automatically on a single instrument. The system provides detection of microbial contaminants starting within just hours; sending problem alerts so that decision-making and remedial action can start immediately. Leveraging an already proven detection technology, the Growth Direct(TM) System delivers exceptional enhancements to productivity, faster response time and reduction in errors.
"The investor group sees the tremendous impact the Growth Direct(TM) System will have in the market and with the imminent launch of the product line is pleased to invest additional funding to expand operations," said Richard S. Kollender - Board Member and Partner at Quaker Partners.
This financing round featured continued participation from the existing investors; Kleiner Perkins Caufield & Byers, Longitude Capital, Quaker Partners, TPG Biotech, and TVM Capital.
"Securing the additional funding allows the company to implement our commercialization plans which will support our customers' global adoption of the Growth Direct(TM) technology," said Steve Delity, President and CEO.
Growth Direct(TM) is the only system on the market where all microbial testing can be run both concurrently and automatically on a single instrument. The system provides detection of microbial contaminants starting within just hours; sending problem alerts so that decision-making and remedial action can start immediately. Leveraging an already proven detection technology, the Growth Direct(TM) System delivers exceptional enhancements to productivity, faster response time and reduction in errors.
"The investor group sees the tremendous impact the Growth Direct(TM) System will have in the market and with the imminent launch of the product line is pleased to invest additional funding to expand operations," said Richard S. Kollender - Board Member and Partner at Quaker Partners.