Biosynthesis specialist Antheia has topped off its series C funding with a second close, adding $24 million more to its haul.
The financing lift brings Antheia's total funding over the past year to more than $175 million when combined with other capital and new contracts with the U.S. government, the company said Tuesday.
The biomanufacturer is known for producing a key ingredient used in the opioid overdose treatment Narcan and collected $56 million in series C financing last June.
The latest funding update will fuel the company’s goal to bring more late-stage biosynthetic drug ingredients to market. The cash will also help Antheia establish its U.S. manufacturing operations, which the company framed in the context of the U.S.' push to onshore drug production.
ATHOS KG and America's Frontier Fund led the second closing with participation from existing investors Global Health Investment Corporation and EDBI, Antheia said in its Jan. 27 press release.
“Advanced biosynthesis has immense potential to transform pharmaceutical supply chains and unlock a new era of innovative medicines,” Christina Smolke, Antheia’s co-founder and CEO, said in a statement. “This additional infusion of capital will fuel our efforts to address urgent supply chain vulnerabilities and, more broadly, lead a paradigm shift for pharmaceutical manufacturing.”
Antheia uses advanced synthesis and fermentation technology for rapid, on-demand production of pharmaceutical building blocks. The company made its first full-scale delivery of thebaine in 2024, a key ingredient in the production of Narcan.
The company scored another big win in November when it secured an agreement with TAPI, Teva’s active pharmaceutical ingredient and contract manufacturing business.
That deal will allow Antheia to link its biosynthesis platform with TAPI’s fermentation expertise and large production presence in Europe as part of a bid to bring its production of drug ingredients and starting materials up to market scale.