BioFactura, Inc., a Frederick, MD-based biopharmaceutical research and manufacturing company, closed a $1.8m Series A round of financing.
The round was led by Chairman of the Board and Chief Medical Officer Dr. Jeffrey Hausfeld.
The funds will be used to advance a portfolio of generic biologics, known as biosimilars, to the advanced preclinical stages.
Founded in 2004 and led by Chief Executive Officer and President Darryl Sampey, BioFactura has core competency in the development of stable manufacturing cell lines for production of therapeutic protein-based drugs with a focus on monoclonal antibodies. In addition to the fundraising and in preparation for advanced drug development, BioFactura opened a new headquarters and R&D/manufacturing facility in the Riverside Research Park located in Frederick, MD.
To date, the company has raised over $10m in funding.