Drug contamination test maker Rapid Micro secures $60M in financing to expand

woman with back to camera working in a laboratory
Rapid Micro Biosystems secured $60 million in financing to expand its microbial detection technology for drug manufacturers. (Michal Jarmoluk)

Rapid Micro Biosystems, maker of microbial detection technology for drug manufacturers, secured $60 million in financing to expand its global reach and develop new products.

The equity financing was led by Bain Capital Life Sciences and Xeraya Capital. Also included in the funding round were Asahi Kasei Medical, Longitude Capital, Quaker Partners, TVM Capital, and Richard K. Mellon and Sons.

Massachusetts-based Rapid Micro focuses on technology to detect microbial contamination in the manufacturing of pharmaceuticals, biologics, biotechnology products, medical devices and personal care products.

Its Growth Direct technology is a growth-based system that automatically detects contamination, helping reduce costs for drug manufacturers while increasing the quality control process, the company said. By quickly detecting microbial contamination, drug manufacturers can reduce inventory carrying costs, shorten manufacturing cycles and reduce product losses.

“The new round of investment will fuel significant business growth and strategic capability that will strengthen our ability to serve customers globally,” Robert Spignesi, Rapid Micro’s CEO, said in a statement.

Last year, Boston-based Bain teamed with the London-based private equity firm of Cinven to buy German drugmaker Stada in a $5.63 billion deal.

Suggested Articles

GBA offers Brexit escape, Merck and Just - Evotech to share production space, GSK ointment line in Bangladesh may reopen and more news of note.

The real estate impresario that built a chain of upscale drug recovery facilities is now building a gene and cell therapy CDMO near Philadelphia.

Pfizer's Upjohn has reached a deal to exclusively supply generic Viagra to telehealth provider Roman as the company prepares to merge with Mylan.