OTTAWA, Ontario–(BUSINESS WIRE)–Virica Biotech Inc., a leading life science developer of solutions for scaling of viral medicines, announced today the first closing of its Series A financing. The round, led by Dynamk Capital, is expected to close with additional investors by the end of Q4-2021. The investment strengthens Virica’s already impressive growth trajectory, as it gears up to become a premier manufacturing partner for global viral medicine producers. The investment will be used to expand Virica’s operations with the opening of a new lab facility, that is part of the Ottawa Health Innovation Hub. Watch the grand opening here.
“Most of the successful new treatments for fighting cancer, rare diseases, and infections are made possible because of advances in viral medicines and now demand for these new therapies is outpacing production,” said Jean-Simon Diallo, CEO and co-founder of Virica Biotech. “This investment accelerates our capacity to help companies and organizations overcome production shortfalls and improve the efficiencies of their viral-based therapies, cell therapies, and vaccine candidates.”
“Innovators and contract development and manufacturing companies alike are struggling to reliably produce sufficient quantities of their vaccines and gene therapies,” said Daniella Kranjac, Founding Partner at Dynamk Capital. “We’re excited to partner with the Virica team, who are seizing the massive opportunity to reduce bottlenecks for viral medicine manufacturers, so more patients have access to essential medicines.”