PBS Biotech Raised $10 Million in Private Funding

Recent development PBS Biotech has bagged $10 million during a funding initiative with executives of BroadOak Capital PartnersThe company plans to use the funding to industrialize and widen its portfolio of bioreactor systems and contract process development services.

PBS Biotech specializes in manufacturing single-use bioreactors and uses proprietary technology to achieve mixing properties and environmental conditions for cell therapy products. This method has proven superior to traditional stirred-tank bioreactors. The biotech company’s systems are used by more than 200 customers, from development groups and large-scale manufacturing groups to small-scale research companies. The single-use bioreactor systems help manufacture stem cells and certain types of therapy manufacturing.

BroadOak Partner Bill Snider said that the cell therapies represent a paradigm shift that enables durable cures for today’s untreatable diseases. Camarillo-based company is in a good place to enable scalable manufacturing of stem cells in this emerging space, and we are proud to partner with them for the first investment of BroadOak’s Fund V.Brian Lee, chief executive of PBS Biotech, shared their excitement to accomplish milestones at the perfect time. With the support of BroadOak, PBS Biotech will deliver on our vision of becoming the world’s standard manufacturing platform for allogeneic cell therapies.

The company said that it uses vertical-wheel technology to develop cell therapy products. In addition, it runs a bioprocess R&D facility offering development services to cell therapy clients who are moving from research to clinical and commercial phases. Key market actors were found as well as also defined for a better understanding of customer characteristics. The corporate profile, current developments, financial conditions, and SWOT are some of the factors described by key market participants in this study.