Multiply Labs Raises $75M in Series B Funding to Expand Robotic Drug Manufacturing
aiinsider ·
Multiply Labs has secured $75 million in Series B funding to expand its robotic systems for automating biologics manufacturing. The round was led by Dr. Patrick Soon-Shiong and NantWorks, with participation from new investors such as AstraZeneca, Lingotto, Teradyne, and Strange Ventures. This investment brings the San Francisco-based startup's total capital raised to over $100 million since its founding in 2016. The company aims to use the funds to increase manufacturing capacity, accelerate product development, and grow its engineering and regulatory teams. Multiply Labs claims its autonomous robotic clusters can reduce the cost per dose by 74% and achieve up to 100 times the throughput of manual processes. These systems are designed to integrate with existing pharmaceutical equipment without requiring new facilities or changes to validated procedures. By automating repetitive steps in a GMP-compliant environment, the technology seeks to minimize contamination risks associated with manual labor. CEO Fred Parietti emphasized that robotics is essential to scaling advanced therapies like cell and gene treatments to meet growing patient demand.
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