Kemp Proteins Secures $5M Growth Financing from BroadOak Capital Partners
Funding for expansion of facilities to increase bacteria expression and plasmid production
21 June 2022, Frederick, Maryland, — Kemp Proteins, a leading CDMO specializing in the production and characterization of novel proteins, from mammalian, insect, and bacterial host cells, for the pharmaceutical, diagnostics, and research industries, announced today that it has secured financing from BroadOak Capital Partners, LLC (“BroadOak”). The transaction with BroadOak provides Kemp Proteins with capital to expand its bacteria expression and plasmid production services in Frederick, MD.
“The availability of high-quality plasmid DNA is an important determinant for successful transfection when expressing target proteins, irrespective of the cellular host. Broadoak’s growth investment will enable us to acquire several S.I.P. fermenters, digitized controllers with off-site monitoring capabilities and additional lab space. This will enhance our manufacture capability of high-purity, high-homogeneity, low-endotoxin plasmid DNA, as well as gram scale production of proteins, all under our ISO 9001:2015 and ISO 13485:2016 certified Quality Management System,” stated Michael Keefe, CEO of Kemp Proteins. “BroadOak’s financing enables us to expand our facility, better meet client needs, and accelerate our revenue stream growth.”
Kemp Proteins’ management has built a team of experienced “protein problem-solvers” comprised of experts in protein expression and purification, stable cell line, and hybridoma development. This team has developed processes for high-throughput micro-scale expression, purification, and characterization of proteins. Building on their wealth of experience, the team has supported clients through the process discovery development to provide a reliable documented process for GMP biomanufacturing and plasmid production.
“This investment not only provides capital, but also access to strategic and market insights from BroadOak. Bryan Poltilove, an operating partner at BroadOak, will work closely with us on strategic market development as well as access to BroadOak’s extensive industry network. Advice and support from Bryan and the BroadOak team will be important as we continue our aggressive growth strategy over the next three years,” said Mr. Keefe.
Bryan Poltilove commented: “Kemp Proteins occupies a unique space within the CDMO market. They have assembled a top-notch scientific team with state-of-the-art expression, purification and analytical laboratories enabling them to achieve prodigious growth over the last three years. Sound science, excellent process discovery and protein manufacturing, and good project management have led to a growing client roster. Kemp Proteins’ vertical integration into large-scale plasmid production enables the company to service the ever-growing cell and gene therapy market as well as their portfolio of biopharma clients.”
About Kemp Proteins (www.kempproteins.com)
Kemp Proteins LLC, a Six.02 Bioservices member company, is a leading provider of gene-to-protein, hybridoma and cell line development services. Kemp’s team of experienced protein problem-solvers deliver best-in-class services that optimize productivity and mitigate risk for life sciences innovators developing protein-based products, including human and veterinary diagnostics, biopharmaceuticals, and vaccines. Kemp Proteins operates under a Quality Management System certified against ISO9001:2015 and ISO 13485:2016 standards.
About BroadOak Capital Partners (www.broadoak.com)
BroadOak Capital Partners, with headquarters in Washington, DC and San Francisco, is a life-sciences focused boutique financial institution that provides direct investment and investment banking services to companies in the research tools and consumables, diagnostics, biopharma services, and adjacent markets. BroadOak has led or participated in investments in more than 50 companies across multiple funds and investment vehicles.
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