August Bioservices, LLC, a pharmaceutical contract development and manufacturing organization (CDMO) that provides drug discovery, development, and pharmaceutical manufacturing services, announced today that it has secured $65 million in Series B funding led by Oak HC/FT, who also led the Series A funding in July 2020. Polaris Partners, an existing investor, has joined this round.
August Bio will use the new funding to expand its capacity to meet the growing development and manufacturing needs of its current and new customers. To support high-speed liquid vial filling, the company will add a new sterile injectable filling suite. This expansion will provide additional capacity for large batch production, allowing August Bio to meet the pharmaceutical manufacturing needs of customers of all sizes. In addition, the company will fully automate downstream inspection, labeling and packaging processes in support of the increased throughput.
“This round is a testament to our support of August Bio’s plans to deliver greater impact through the expansion of high-quality aseptic fill/finish capacity,” said Andrew Adams of Oak HC/FT. “As demand increases for U.S.-based sterile injectable manufacturing, investment in companies like August Bio, with a rigorous commitment to quality, is essential.”
Headquartered in Nashville, TN, August Bioservices, LLC is a high-tech, growth-focused, and innovative provider of Contract Research, Development and Manufacturing services, that plays a crucial role in the global pharmaceutical industry supply chain. August Bioservices partners with biopharmaceutical and biotech companies to provide a wide array of services that help to accelerate the advancement of novel therapeutics along the drug development pathway.
