Milford biotech secures $18M for U.S. expansion
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Leukocare's U.S. operations are located in Rentschler Biopharma SE's U.S. headquarters in Milford
Leukocare, which has its U.S. operations based in Milford, announced on Wednesday it has raised $17.5 million from New York investment firm Petrichor Healthcare Capital Management.
The German biotechnology company specializes in biopharmaceutical formulation development and plans to use the funding to accelerate its U.S. expansion as well as bolstering its vaccine formulation, mRNA formulation and expanding its bioinformatics capabilities, the company announced in a release.
“This funding enables us to expedite our growth plans which encompass enhancing our bioinformatics capabilities as well as growing Leukocare´s market presence in the U.S.,” Leukocare CEO Michael Scholl said in the release.
In January, Leukocare started its U.S. operations with the opening of development laboratories and offices in Milford. Leukocare's U.S. site is located in Milford at the facility of Rentschler Biopharma, a contract development and manufacturing organization.
Following the financing, Tadd Wessel, founder and managing partner at Petrichor, will join Leukocare’s supervisory board.
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