InDevR Secures $7 Million Series A Funding to Expand Global Market Presence and Advance VaxArray Platform

On September 11, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that U.S. biotechnology company InDevR had completed a $7 million Series A financing round, led by Adjuvant Capital.

InDevR plans to use the proceeds from this financing round to carry out research and development activities and expand its market presence globally, in order to meet growing customer demand for its multiplexed protein quantification platform, VaxArray.

InDevR is a biotechnology company headquartered in Boulder, Colorado, USA. The company focuses on the development and commercialization of novel analytical technologies for bioprocess development and monitoring. InDevR is led by Dr. Kathy Rowlen, its CEO and co-founder.

InDevR’s VaxArray platform can optimize the bioprocesses of vaccines within novel influenza vaccine production platforms. Building on this success, the company plans to actively expand into new application areas, aiming to minimize the complexity, turnaround time, and costs associated with producing public health vaccines and biotherapeutics.

Glenn Rockman, Founder and Managing Partner of Adjuvant Capital, stated, “Although laboratory assays for characterizing biological products receive less attention, they are a critical component of product development and quality control. InDevR is at the forefront of 21st-century technology and innovation, continuously driving improvements in biomanufacturing processes. We hope that this financing will help InDevR expand the impact of its VaxArray platform in the influenza vaccine sector and broaden its core biologics product portfolio.”

Dr. Kathy Rowlen, CEO and Co-founder of InDevR, stated, “Partnering with Adjuvant marks InDevR’s entry into its next phase of development. We will further enhance the positive impact of new technologies such as VaxArray on human health by improving processes and reducing costs. We are well-positioned to translate this round of financing into products that streamline biological processes associated with vaccine development and manufacturing.”

Adjuvant is a life sciences fund headquartered in New York, USA, dedicated to accelerating the development of new technologies to address 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 identifies investment opportunities through a network comprising global scientists, public health experts, seasoned biopharmaceutical industry professionals, and finance specialists.

(Compiled by Tian Shuhang)