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LONDON and WOODCLIFF LAKE, N.J., Oct. 14, 2020 /PRNewswire/ — Ori Biotech Ltd (Ori), a leading innovator in cell and gene therapy (CGT) manufacturing, today announced the successful close of a $30 million Series A financing round, bringing the company’s total funding to date to $41 million. The new funding will be used to help bring Ori’s innovative manufacturing platform to the market. The Ori platform delivers scalable solutions to flexibly address the critical clinical and commercial manufacturing needs of CGT developers.
The Series A investor syndicate was led by the experienced life sciences investment team at Northpond Ventures, a leading global science, medical, and technology-driven venture fund, alongside Octopus Ventures, a leading European venture fund. Northpond and Octopus invested alongside significant support from Ori’s existing institutional investors, Amadeus Capital Partners, Delin Ventures, and Kindred Capital.
“Closing a significant Series A round, during these uncertain
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Manifold, the applied AI company, announced a seed financing to support rapid growth, led by Jon Karlen, chairman of Acadian Software and former board member of PillPack. He was joined by Waterline Ventures where Robbie Greenglass led the investment and by former executives, investors, and board members of Amazon, Auris Health, Brightree, and Elevation Pharmaceuticals.
Manifold partners with visionary leaders to make progress rapidly on AI mandates from C-suites and Boards through joint discovery and development programs. Manifold’s AI foundry brings together the infrastructure, algorithms, data, and multidisciplinary R&D team needed to rapidly forge market ready products. In contrast to other tools companies, Manifold’s AI scientists and software engineers work closely with biomedical scientists and engineers to invent novel solutions. Past collaborations have resulted in patents and publications in addition to products, for areas ranging from PK/PD modeling to HEOR and adherence.
“Manifold is continuing to experience rapid growth, with
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SAN FRANCISCO, Sept. 23, 2020 /PRNewswire/ — Benchling announced today that it appointed Jennifer Goldsmith, former Veeva SVP, and Ron Gill, former Netsuite CFO, as independent board directors. Goldsmith brings an extensive background at the intersection of life sciences and software, including experience taking Veeva through IPO, while Gill brings deep financial experience helping SaaS platforms scale globally. The appointments come on the heels of Benchling’s strongest quarter ever, in which Benchling continued its strong growth with new and existing global corporations across pharmaceuticals, agriculture, materials and more.
“Jennifer and Ron are industry veterans with rare expertise in scaling cloud software companies to over $1B in revenue,” said Sajith Wickramasekara, Benchling CEO and co-founder. “Jennifer is one of the few people who has built transformative and enduring software for the life sciences. Her extensive industry knowledge and experience as a product leader will help us navigate
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Biotech has become one of the hottest areas of venture investment in recent years, as progress in machine learning, genetics, medical devices and biology fuse together into new products for the gargantuan health industry.
Case in point: Grail, which began in 2016 as a spinoff from genetic sequencing giant Illumina and co-founded by longtime Google executive Jeff Huber (who was involved in the creation of the company’s experimental laboratory Google[x]), is now being spun back in to the tune of an $8 billion acquisition announced this morning.
Illumina originally invested $100 million in the spinout, and Grail would go on to raise about $2 billion in funding from prominent biotech firm ARCH, one of China’s top VCs Hillhouse Capital, among many others according to Crunchbase. Illumina currently owns 14.5% of the company’s outstanding shares, making the effective purchase price for Grail closer to around $7 billion.
Grail’s technology was designed