August Bioservices, a Nashville, Tenn.-based contract development and manufacturing organization (CDMO) providing drug discovery, development, and pharmaceutical manufacturing services, closed a $23.6m Series A extension.
The round was led by Polaris Partners, who joined existing investor Oak HC/FT. As part of the financing, Brian Chee, Managing Partner of Polaris Partners, joined the August Bioservices’ board as a Director. Darren Carroll of Polaris Partners joined the board as an observer.
The company intends to use the funds to expand its manufacturing capacity and capabilities to advance the technology platforms needed to support production of sterile injectable medications.
Led by Jenn Adams, CEO, August Bioservices partners with biopharmaceutical and biotech companies to provide a wide array of services to accelerate the advancement of novel therapeutics along the drug development pathway. Its service portfolio includes cGMP non-sterile and bulk manufacturing, aseptic fill and finish, labeling and related services. The company also provides drug formulation, process design and scale-up, analytical and stability testing, and research services that feature target validation, characterization and assay development, protein engineering and cell-line development.