Primrose Bio lands growth round led by Signet to scale biologics manufacturing

What's the deal? Primrose BioDealroom has a profile for this one. Try Dealroom →, a San Diego provider of production technologies for next-generation biologics, has closed a growth equity round led by new investor Signet Healthcare PartnersDealroom has a profile for this one. Try Dealroom →. Existing backers 1315 CapitalDealroom has a profile for this one. Try Dealroom →, Ligand Pharmaceuticals, LDV PartnersDealroom has a profile for this one. Try Dealroom →, and Agent CapitalDealroom has a profile for this one. Try Dealroom → also joined. As part of the deal, Signet founding partner and managing director James Gale is joining Primrose's board.

What does the company do? Primrose builds manufacturing technologies for biologics, mRNA, and vaccine production. Its portfolio includes Pfenex Expression Technology, a microbial platform used in six approved biologics; Prima RNApols, enzymes for mRNA manufacturing; and PeliCRM197, a carrier protein used in approved vaccines.

Who's using it? Several major pharmaceutical companies rely on Primrose's technologies in marketed products, including MerckDealroom has a profile for this one. Try Dealroom →, Jazz Pharmaceuticals, AlvogenDealroom has a profile for this one. Try Dealroom →, and Serum Institute of IndiaDealroom has a profile for this one. Try Dealroom →.

What's the money for? The proceeds will help Primrose broaden adoption of its portfolio and expand its capabilities. "This capital will help us broaden adoption, enhance capabilities and accelerate customers moving therapeutic and vaccine programs forward toward clinical trials," said chief executive officer Andrew Burch.

Why Signet? The firm has history with the platform. Gale said Signet partnered with The Dow Chemical CompanyDealroom has a profile for this one. Try Dealroom → to establish Pfenex Inc. in 2009 and has "seen the platform's commercial value firsthand." The firm, founded in 1998, has invested in more than 60 commercial-stage healthcare companies.

The signal: Investor interest is flowing to the picks-and-shovels layer of drug development — the companies that make biologics, mRNA, and vaccines easier to produce. As developers push more complex modalities toward the clinic, manufacturing performance is becoming its own commercial opportunity.

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Image credit: jurvetson