ANN ARBOR–Upkara, a biotech startup, announced that it has secured $9 million in Series A funding, including additional investment from prominent businessman and philanthropist Bill Parfet, along with industry veteran, Paul Meister, former Chairman of Thermo Fisher Scientific.
Upkara’s patented technology is revolutionizing the way biomedical industries tackle cold-chain challenges by eliminating them. By enabling ambient temperature storage and transportation of therapeutic and research tools, Upkara’s breakthrough biopreservation technology has far-reaching applications in reagents, biobanking, and human health, and has the potential to significantly improve access to vital therapeutics and research tools.
Upkara is currently collaborating with reagent companies to incorporate its technology into manufacturing processes. Biomolecules stabilized by the Upkara process can be stored and shipped at ambient temperatures, reducing waste, increasing efficiency, and improving sustainability. As such, Upkara-stabilized reagents provide significant cost savings to manufacturers while enhancing customer appeal.
“We are thrilled to have the continued support of Bill Parfet, who has been an invaluable partner to Upkara since his initial investment,” says Upkara founder Pravansu Mohanty. “His extensive experience and expertise in the industry have been instrumental in helping us bring our technology to market, and we are grateful for his ongoing commitment to our mission.”
Paul Meister, former Chairman of Thermo Fisher Scientific, also recognizes the transformative potential of Upkara’s technology. “I am excited to partner with Upkara, whose unique solution has the potential to transform the biomedical industry,” he says. “Upkara’s technology has the potential to improve sustainability, reduce waste and increase research efficiency across the entire life science’s industry, and, ultimately, ameliorate patient outcomes and global health equity by facilitating global distribution of pharmaceuticals.”
With the additional investment, Upkara is poised to accelerate its growth and continue to develop and commercialize its technology.
For more information about its innovative biopreservation technology or partnering with Upkara, visit upkara.com.