Graduated from Y Combinator S16 batch and one of our portfolio startups, Multiply Labs, a San Francisco based robotics company with focus on building automated manufacturing systems for large-scale production of personalized drugs has raised $20M in Series A.
Funding round was led by Casdin Capital, a research investment firm in participation with Founders Fund, Garage Capital, Lux Capital, Fifty Years and Pathfinder (formerly FF Angel). This round leads total funding amount of Multiply Labs to $22.7M.
With this round, Michael Doherty, a personalized medicine pioneer and former head of Regulatory Affairs at Roche and a representative of Casdin Capital will join Multiply Labs’ Board of Directors.
Multiply Labs’ robotic systems leverage the latest advancements in autonomous technology – from collaborative robots to cloud-controlled fleets – to enable the production of individualized drugs at industrial scale.
“We strongly believe that robotic technology is essential to scale the production of individualized, next-gen drugs. Only automation can bring these life-saving therapies to all the patients who need them, safely and efficiently,” said Fred Parietti, PhD, Co-founder and CEO of Multiply Labs. “Our goal is to augment pharma manufacturing with deep, industry-leading robotics technology. We are proud to work with top investors in both biopharma and tech. This funding will allow us to grow our installed production capacity, while expanding our range of applications to new therapies.”
“The Multiply Labs robotics platform has the added potential to introduce a digital, total quality control system,” said Michael Doherty, former head of Regulatory Affairs at Roche. “It is with great excitement that I join Multiply Labs’ Board of Directors to support the team in developing and scaling this pioneering technology.”
“If you look behind every great disruptive technological advance you will find scaled and efficient manufacturing,” said Eli Casdin, Chief Investment Officer and Founder, Casdin Capital. “Precision medicine and the wave of molecular therapies on the horizon is no different. We see Multiply Labs’ platform and the team’s deep expertise in robotics and pharma R&D, as uniquely positioned to deliver the increased efficiency, lower cost, and greater flexibility necessary to accelerate innovative drug discovery and production. We are excited to lend our help and capital to fuel the company’s next leg of growth.”
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