BRIEF—Rapid Micro Biosystems raises $120 million as demand jumps amid pandemic

The provider of an automated microbial detection platform has announced the completion of a $120 million financing.

USA-headquartered Rapid Micro Biosystems, which is used by most top 20 pharma companies, is facing a growing demand for its Growth Direct platform and wants to support new product development for pandemic response.

The global investor syndicate was led by Ally Bridge Group, joined by Endeavour Vision, and existing investors including Bain Capital Life Sciences, Longitude Capital, Xeraya Capital and Asahi Kasei Medical.

Robert Spignesi, chief executive of Rapid Micro Biosystems, said: “Global demand for drugs and vaccines is growing rapidly, a trend further amplified by the current pandemic. In response, manufacturers of biologics, sterile injectables, vaccines and cell and gene therapies are turning to the Growth Direct platform to modernize their manufacturing operations, improve their processes and make faster decisions.”