NEW YORK (GenomeWeb News) – Natrix Separations, a Burlington, Ontario-based manufacturer of membrane-based disposable chromatography products, has raised $19 million in a Series B financing, the firm announced last night.
The firm said it would use the funds to complete construction of its ISO 900-compliant commercial manufacturing facility, and to support commercialization of its portfolio of separation products based on its adsept technology. That technology enables end users to rapidly and selectively capture specific target molecules from a broad range of feed streams, Natrix said.
The round of financing was led by Cupertino, Calif.-based DE Shaw Venture Capital and included existing investors Canadian Medical Discoveries Fund, which is managed by a unit of Jovian Capital, and BDC Venture Capital, which is the venture capital arm of the Business Development Bank of Canada.
As part of the financing, Alex Wong, a managing director of DE Shaw, will join Natrix’s board of directors.
“Natrix is a rare company that has created technology to enable a new generation of cost-effective, high performance products ranging from therapeutic drugs to nutraceuticals and ultrapure drinking water,” Wong said in a statement.