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July 8, 2009

VC Firm, KPCB leads $18.6 Million in Series A Funding for Rapid Micro Biosystems

Filed under: Venture Capital News — admin @ 12:46 pm

Based in Bedford, Massachusetts, Rapid Micro Biosystems announced today that it has received $18.6 million in series A funding with KPCB or Kleiner Perkins Caufield & Byers leading the funding. Other investors participating in the funding include TVM Capital, Quaker BioVentures, and VIMAC Milestone Medica Fund.

Rapid Micro Biosystems is an innovator in the detection of microbial contamination in the manufacturing of pharmaceuticals, biotechnology, and personal care products. Rapid Micro Biosystems began the launching of its Growth Direct System in 2008. The Growth Direct System is a unique product in the industry, because it detects contamination earlier and its ability to do so allows for more compelling economic results, generating revenue and making Rapid Micro Biosystems highly attractive to investors.

Rapid Micro Biosystems has had such great results with the Direct Growth System, that it has become the lead product of the company. The way Direct Growth Biosystems works is by its proprietary digital imaging and can bypass the human eye, that has difficulty spotting microscopic organisms. The Direct Growth System uses the digital imaging technology to accurately detect the contamination as well as automating all the manual steps in the detection systems used today, therefore eliminating the risk or error and inaccurate results.

According to Steve Delity, Rapid Micro Biosystems’ CEO, the company is very proud to have the types of lead investors investing in the company and see the great potential of Rapid Micro Biosystems’ revolutionary main product, the Direct Growth System. A rapid detection system for contamination is definitely needed in the big pharma, biologics, and personal care products industries. Furthermore, industrial standards in these industries are getting to be higher and higher, so there are many unmet needs for more rapid detection for microbial contamination detection. The current methods to detect microbial detection are slow and there are many manual steps that are prone to error. The Direct Growth System eliminates these manual steps and provides a quicker and more accurate result.

According to Thomas P. Monath, Partner at KPCB, Rapid Micro Biosystems so far has outmatched the competition with its superior proprietary technology and its Direct Growth System platform. Furthermore, this unique blend of high throughput technology has a good opportunity to meet the unmet needs in the detection and testing market. Furthermore, this technology and the company’s stellar management team are addressing many of these unmet needs in the marketplace and the future looks very good for Rapid Micro Biosystems.

KPCB is a global vc firm that is dedicated to build serious companies on a global scale. KPCB was founded in 1972 and has invested in over 500 companies, some of which are household names, including, AOL, and Symantec. KPCB is based in Menlo Park, California and also has offices in Beijing and Shanghai, China. Some other companies in KPCB’s portfolio include 3V Biosciences, 3VR Security, AeroHive, AltaRock, and others.

For more information about Rapid Micro Biosystems, click here.


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