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news.Natrix Separations, a privately held company that develops and manufactures membrane-based disposable chromatography products, has closed a Series B financing totaling $19 million.
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The round was led by DE Shaw Venture Capital of Cupertino, California, and included existing investors the Canadian Medical Discoveries Fund, managed by JovInvestment Management, part of Jovian Capital Corporation, and the venture capital arm of the Business Development Bank of Canada, BDC Venture Capital.
The proceeds of this raise are being used to complete the construction of Natrix’s ISO 9001 compliant commercial manufacturing facility, and to support the commercialization of Natrix’s diverse portfolio of separation products based on the company’s patented adsept technology.
With this financing, Alexander Wong, a managing director of DE Shaw & Co and head of DE Shaw Ventures, joins Natrix’s board of directors. Dr Wong brings to Natrix over 15 years of experience in venture capital and engineering management.
Michael Cross, senior vice president of JovInvestment Management, said: “Natrix has a unique value proposition. Its products address the unmet needs of customers in a variety of markets within the separations space. This new investment will allow the company to diversify its product offerings and penetrate new markets in North America and abroad.”