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Print Edition StoriesTuesday, March 10, 2009
Seahorse Bioscience lands $6M, buys BioProcessors Corp.
By Mass High Tech staff
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Biotech materials company Seahorse Bioscience Inc. has taken in $6 million in a Series D round of funding, to help it purchase BioProcessors Corp., a Woburn-based maker of systems for improving biologic drug manufacturing.
The new funding for North Billerica-based Seahorse came from Commonwealth Capital, Oxford Bioscience, Flagship Ventures, Life Sciences Partners, FLIR Systems Inc., Healthcare Ventures, New Science Ventures and HLM Venture Partners.
Seahorse makes consumables and instruments for research, including its XF series of assay instruments, which measure energy consumption and mitochondrial function in cells in a 24- or 96-well microplate. BioProcessors’ “SimCell” technology allows biologic drug manufacturing to scale-up using plastic, microplate-sized cards with six small bioreactors, allowing researchers to run many dozens of simultaneous experiments.
According to Seahorse CEO Jay Teich, the company will expand and grow the SimCell product line and markets. Teich said that the two companies are fully integrated and Bioprocessors’ entire staff less its CFO — about 14 people — became part of Seahorse. That brings the company’s staff level to about 80 employees, he said.
Seahorse also maintains a manufacturing facility in the Westover Airpark North industrial area in Chicopee. The company changed its name from Thermogenic Imaging Inc. in 2005.
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