Battelle regenerative medicine spinoff AmplifyBio LLC has raised $49.75 million toward a goal of $100 million, according to a regulatory filing.
So far four investors have participated in the round, with the first money raised Oct. 31, according to the Form D filed this month with the U.S. Securities and Exchange Commission.
The West Jefferson startup declined to comment through a spokeswoman. Companies typically do not comment if a funding round is still open to avoid the appearance of public solicitation.
The contract research organization helps clients such as research organizations and pharmaceutical companies bring biologically based treatments to market, such as cell and gene therapies or mRNA vaccines.
Since spinning out of Columbus research giant Battelle with 125 scientists and technicians in May 2021, AmplifyBio more than doubled to 300 employees as of this February, including about 50 at a San Francisco area lab acquired last year. It's also building a lab in New Albany, with plans for more high-paying jobs, expected to open in the coming months.
If the full target is achieved, the new funding would double outside investment in the startup.
Battelle had been testing the safety and efficacy of pharmaceuticals and biological materials since 1979, but wanted to create a startup filling crucial gaps in the development of cell and gene therapies. The Columbus research giant signed over the West Jefferson building and equipment worth about $100 million in 2021.
Along with the spinout, VC investors put in $100 million in cash: Viking Capital Investments, Casdin Capital and Ohio's Narya Capital.
This January, AmplifyBio added a non-dilutive $50 million credit facility.
AmplifyBio takes a project from early research through commercial development and clinical trials – such as testing toxicity and safety, testing whether the therapy is effective in a lab dish or in animals, and designing systems to determine how different parts of a genetic sequence function in the proposed therapy.
It works alongside clients to design consistent manufacturing methods and improve the resulting product. It also manufactures materials such as the DNA plasmids containing the corrected gene copy for a gene therapy.
