Advanced Medicine Partners secures additional $32M in financing
North Carolina-based Advanced Medicine Partners has announced a new financing agreement led by Deerfield Management, with additional support from ARCH Venture Partners and other investors. Once complete, this latest funding round of $32 million will bring the total direct investment in Advanced Medicine Partners to $60 million since its separation from Jaguar Gene Therapy.
Jaguar Gene Therapy formed Advanced Medicine Partners earlier this year to provide process development, manufacturing, analytical development and testing for advanced therapy products, with a specialty in viral vectors for gene and cell therapies. The spin-off operates out of 33,000 square feet of lab, office and warehouse space in Cary and Durham and is building a 174,000-square-foot GMP manufacturing facility in Durham.
Advanced Medicine Partners also announced the appointment of Ray Kaczmarek and Felix Hsu to its Board of Directors. Kaczmarek, who will serve as executive chair of the board, is a veteran biopharmaceutical leader with over 20 years of experience in manufacturing and development. Hsu is a seasoned C-suite executive with over 30 years of experience specializing in building businesses and delivering revenue and profit growth.
Advanced Medicine Partners has a proprietary development platform and adeno-associated virus (AAV) manufacturing process that has been used with multiple genes of interest as well as wild-type AAV serotypes and engineered capsids. The company also offers assay development services and developed platform analytical methods that can be licensed.
“The gene and cell therapy space is at an exciting inflection point and in need of new manufacturing solutions that can efficiently and reliably bring promising precision therapies to patients at scale,” said Jonathan Leff, partner at Deerfield Management Company and Chairman of the Deerfield Institute "We are pleased to support Advanced Medicine Partners and its newest board members with additional capital, helping the company realize its mission to address capacity constraints across the industry while enhancing quality in the design and manufacturing of this therapeutic class.”
Read more: Jaguar Gene Therapy creates spin-off to manage CMC capabilities
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