InDevR Raises $7 million in Series A Financing with Adjuvant Capital
Boulder, CO, 10 September 2019 – InDevR, Inc., a biotechnology company focused on developing and commercializing novel analytical technologies for biologic process development and monitoring, today announced that it has raised a $7 million Series A round of equity financing from Adjuvant Capital (“Adjuvant”). The investment from Adjuvant will support research and development activities and allow InDevR to build out a global commercial enterprise in order to address the growing demand for the company’s multiplexed protein quantification platform, VaxArray. InDevR’s VaxArray products are already impacting influenza vaccine bioprocess optimization in novel influenza vaccine manufacturing platforms and the company plans to aggressively build on that success by expanding into new applications—many of which have the potential to meaningfully reduce the complexity, execution timeline, and cost of essential public health vaccines and biotherapeautics.
“Although laboratory assays for biological product characterization are not often in the limelight, they are essential components of the product development and quality control processes” said Glenn Rockman, Adjuvant’s founder and Managing Partner. “A number of these assays are long overdue for innovation, and InDevR is at the forefront of applying 21st century technology and creative thinking to drive major improvements in these critical behind-the-scenes biomanufacturing workstreams. We hope the Series A financing will help InDevR rapidly scale its public health impact by growing the commercial footprint of the VaxArray platform in influenza vaccines and further expand the menu of essential biologic products that can benefit from faster, less expensive characterization assays.”
“Our partnership with Adjuvant represents the next phase of company growth for us, and we are looking forward to furthering the positive impact on global health that new technologies such as VaxArray can have through process improvements and cost reduction” said Dr. Kathy Rowlen, InDevR’s CEO and co-founder. “We are energized to translate this round of financing into products that can streamline the bioprocesses associated with vaccine development and manufacturing.”
About InDevR—Based in Boulder, CO, InDevR is a biotechnology company poised to significantly impact vaccine process optimization and manufacturing with powerful new protein characterization tools. With a strong history of non-dilutive funding raises, including a $14.7M BARDA contract to develop a high information content influenza diagnostic and recent investment from the Bill & Melinda Gates Foundation to advance measles and rubella vaccine characterization, InDevR has launched several successful life science tool-based product lines including VaxArray and Cypher One.
For more information about the company and products, please visit www.indevr.com or call (303) 402-9100.
About Adjuvant Capital — Adjuvant is a New York-based life sciences fund built to accelerate the development of new technologies for the world’s most pressing public health challenges. Backed by prominent investors such as the International Finance Corporation, Novartis, and the Bill & Melinda Gates Foundation, Adjuvant draws upon a global network of scientists, public health experts, biopharmaceutical industry veterans, and development finance professionals to identify and execute upon new investment opportunities. Adjuvant finances promising new vaccines, therapeutics, diagnostics, and medical devices for historically overlooked indications such as malaria, cholera, Lassa fever, and postpartum hemorrhage, with a commitment to make these interventions accessible to those who need them most in low- and middle-income countries.
For more information, visit www.adjuvantcapital.com.
Shannon Rodriguez, InDevR, Inc., (303) 402-9100