Antheia receives $40 million in venture debt financing
The funding will support Antheia’s expansion with a 14,700 square foot pilot plant located adjacent to Antheia’s headquarters in Menlo Park, California. The new pilot plant will allow the company to significantly improve its efficiency and support the scaling of its growing product portfolio.
“Pilot plants are a critical part of scaling biomanufacturing, and high-quality pilot plant capability is increasingly scarce in the United States,” said Zack McGahey, COO at Antheia. “As we advance our entire pipeline of drug candidates, investing in our own on-site facility will be key to optimizing strain performance and improving efficiency as we transition to industrial-scale production. “
The planned facility will provide Antheia with 500 liters of additional fermentation capacity to support the scale-up of various active pharmaceutical ingredients ( APIs ) candidates. Using this facility, the company expects time savings of two to four months per analysis, improved customer engagement through expedited sampling, and validation timelines and increased utilization rates. Antheia will begin construction in 2023 with the goal of being operational by the end of 2023.
“Antheia uses synthetic biology to create existing and new drugs in a more controlled and cost-effective way,” said Christopher A. Herr, senior managing director at Oxford Finance. “We are excited to partner with Silicon Valley Bank to support Antheia’s facility expansion and growing product portfolio.”
“We are thrilled to support Antheia and its mission to disrupt the traditional agricultural supply chain and accelerate the discovery of new medicines,” said Peter Sletteland, Director of Life Sciences and Healthcare at Silicon Valley. Bank. “As lenders focused on the long-term growth trajectory, we are excited about the future of the business.”
Antheia aims to transform the supply chain of plant-based APIs which are essential for the development of many essential medicines, but which depend on fragile, unpredictable, inefficient and expensive agricultural sources. Using synthetic biology, Antheia is developing several classes of plant-based APIs that cannot be made by synthetic chemistry, including painkillers, neurotransmitter inhibitors, sedatives, chemotherapeutic agents, and anti-infectives. This financing allows Antheia to strategically invest in a pilot plant, which will help optimize the Increase process for the Company’s herbal compound pipeline, which is aligned with the FDA and the WHO Essential Medicines Lists.
Besides announcing its new pilot plant, Antheia has also joined the Association for Accessible Medicines (AAM). AAM was founded to improve access to safe, high quality and effective medicines for all and is well aligned with Antheia’s mission to transform pharmaceutical supply chains to ensure equitable access to essential medicines.