BioFactura Raising Series B Investment to Advance Lead Biosimilar into Phase One
Dr. Jeffrey Hausfeld, BioFactura’s Chairman of the Board and Chief Medical Officer has been tasked with raising a Series B round of $6 Million dollars to help bring their Stelara Biosimilar through Phase One Clinical trials. “We have received significant interest in this asset from large pharmaceutical partners as it is projected to have global sales over $6 Billion dollars at the time of the reference drug patent expiration in 2023.” Dr Hausfeld shared.
The timing of this raise puts BioFactura in a great position to bring their product to market perfectly synched as to when the existing drug is coming off patent. The other great attraction for investors is their patented StableFast™ Biomanufacturing platform that will produce commercial grade material in single use bioreactors and produce higher volumetric yields while more precisely fingerprinting the original drug to match original reference drug. The potential market cap, the timing and the technical advantages are giving a lot of investors a big reason to take a hard look at BioFactura.
Timing is also perfect for accredited investors to take advantage of Maryland’s Biotechnology Investment Incentive Tax Credit (BIITC) and receive a refundable income tax credit equal to 50 percent (50%) of an eligible investment in a Qualified Maryland Biotechnology Company (QMBC), such as BioFactura. Investors need to apply between now and June 22, 2018 to qualify but those that do will get a sizable check from the State of Maryland just for putting their money to work by investing in a great company. Investors residing outside of Maryland, including foreign investors, will receive a check in the amount of the 50% tax credit. The SC&H group published an informative article for any investors looking to learn more about how to take advantage of this amazing program.
Beyond their Stelara biosimilar product they have 3-4 other high value targets that they intend to move forward as well after securing the funding and strategy for their lead product. With their StableFast™ Biomanufacturing platform already patent protected in the US, China, Singapore, Australia and pending in the EU, BioFactura is attracting global attention.
BioFactura is seeking strategic investors, accredited investors and commercialization partners such as Pharma companies looking to add a biologics division to their company. Dr. Hausfeld will be at BIO between June 4-7th in Boston meeting with potential investors as well as commercialization partners, and encourages others to reach out and schedule time with him while they are there.
“With our recent scientific advances coupled with the rising global market value of our reference drugs, I look forward to a successful Series B raise and continued growth of BioFactura.” Said Dr. Hausfeld.
Interview with Dr. Hausfeld at the World Healthcare Congress
Chris Frew, @Biotechmd