OTTAWA, Ontario--(BUSINESS WIRE)--Virica Biotech Inc., a leading life science developer of solutions for scaling of viral medicines, announced today the first closing of its Series A financing. The round, led by Dynamk Capital, is expected to close with additional investors by the end of Q4-2021. The investment strengthens Virica’s already impressive growth trajectory, as it gears up to become a premier manufacturing partner for global viral medicine producers. The investment will be used to expand Virica’s operations with the opening of a new lab facility, that is part of the Ottawa Health Innovation Hub. Watch the grand opening here.
“Most of the successful new treatments for fighting cancer, rare diseases, and infections are made possible because of advances in viral medicines and now demand for these new therapies is outpacing production,” said Jean-Simon Diallo, CEO and co-founder of Virica Biotech. “This investment accelerates our capacity to help companies and organizations overcome production shortfalls and improve the efficiencies of their viral-based therapies, cell therapies, and vaccine candidates.”
“Innovators and contract development and manufacturing companies alike are struggling to reliably produce sufficient quantities of their vaccines and gene therapies,” said Daniella Kranjac, Founding Partner at Dynamk Capital. “We’re excited to partner with the Virica team, who are seizing the massive opportunity to reduce bottlenecks for viral medicine manufacturers, so more patients have access to essential medicines.”
Dynamk Capital is a growth equity and venture capital firm focused on life sciences industrials. Dynamk's investment strategy is centered on identifying companies developing disruptive technologies, tools, and services that enable the full biopharma continuum across discovery, development, and manufacturing of biotherapeutics, including cell & gene therapies and vaccines. Visit dynamk.vc for more information.
Virica optimizes the manufacturing of viral medicines which allows developers to economically deploy their products at scale. Virica’s Viral Sensitizer (VSE™) platform reduces production inefficiencies caused by innate anti-viral defenses in manufacturing cells. Customizable VSE cocktails substantially increase manufacturing yields and reduce the cost of goods for a range of products, including vaccines, cell and gene therapies, and anti-cancer therapies. Visit viricabiotech.com for more information.
This news release contains “forward-looking statements,” which reflect the current expectations of the Company’s management for future growth, results of operations, performance and business prospects. Forward-looking statements involve significant known and unknown risks, uncertainties and assumptions.
Photos available upon request.