PBS Biotech, a Camarillo, CA-based provider of single-use bioreactor systems and bioprocess development services, raised $17M in Growth funding.
Backers included Avego Management, and BroadOak Capital Partners.
The company intends to use the funds to accelerate its new product innovation, process development services, and quality system improvements, further advancing the cell therapy industry.
Led by CEO Dr. Brian Lee, PBS Biotech is a manufacturer of single-use bioreactor systems and provider of process development services. Its bioreactors utilize proprietary Vertical-Wheel® technology to create homogeneous and scalable mixing conditions for a variety of sensitive cell therapy products and cell culture applications.
The company is also expanding its ISO 9001:2015 manufacturing capacity, which will be completed by mid-2025, to support more than $100M in annual revenue and to demonstrate readiness to meet customers’ demands as they scale up from clinical trials to regulatory approval and commercialization.
PBS also added Terrell Mathews as Chief Commercial Officer and Erik Wiberg as Chief Financial Officer. Mathews brings over 20 years of global customer experience in sales and marketing, while Wiberg offers more than 25 years of financial leadership in life sciences and technology. Their combined experience at organizations such as Danaher, Thermo Fisher, Gyros Protein Technologies, and Resolve Biosciences will accelerate PBS’ strategic growth and strengthen its market position while also increasing customer support through geographic expansion and new product and applications development.
FinSMEs
06/01/2025