Fred Parietti Co-Founded Multiply Labs Raises $75M in Series B Funding

Multiply Labs, a San Francisco, CA-based robotic automation and biomanufacturing technology startup, has raised $75 million in a Series B funding round led by NantWorks.

The round also saw participation from AstraZeneca Ventures, Lingotto, Legend Biotech, Fifty Years Ventures, Ora Global, Teradyne Ventures, Strange Ventures, Casdin Capital, Lux Capital, and Founders Fund.

The company plans to use the funding to expand its robotics and hardware engineering teams, accelerate the industrial manufacturing of its automated cell and gene therapy production lines, and support commercial deployments across North America and Europe.

What is Multiply Labs?

Multiply Labs develops robotic systems that automate manufacturing processes used to produce advanced medicines.

The company focuses on cell and gene therapies, antibodies, viral vectors and mRNA therapies. Its technology is designed to reduce the amount of manual work involved in biomanufacturing.

Read More:Reactor Raises Funding to Scale Real-Time Generative Video Platform

Many complex manufacturing processes still require manual and repetitive steps. These processes can increase contamination risks and limit manufacturing capacity.

Multiply Labs uses robotic clusters to automate these steps within enclosed, GMP-compliant systems. The clusters can work with a company's existing instruments and processes without requiring a new facility or changes to already validated practices.

How Much Funding Has Multiply Labs Raised?

Multiply Labs has raised $75 million in its latest Series B funding round.

The source does not provide details about the company's previous funding rounds or its total funding raised before this round.

Who Invested in Multiply Labs’ Series B?

NantWorks led Multiply Labs' $75 million Series B round.

The round also included AstraZeneca Ventures, Lingotto, Legend Biotech, Fifty Years Ventures, Ora Global, Teradyne Ventures, Strange Ventures, Casdin Capital, Lux Capital and Founders Fund.

Why the Funding Matters

Multiply Labs will use the new funding to expand its core robotics and hardware engineering teams.

The company also plans to accelerate industrial manufacturing of its automated cell and gene therapy production lines and support commercial deployment operations across North America and Europe.

Who founded Multiply Labs?

Multiply Labs was founded by Fred Parietti.

The company is headquartered in San Francisco, California.

Multiply Labs was built around the idea that physical AI can play a similar role in drug manufacturing that digital AI plays in drug discovery.

"Robotics is the only way to deliver these therapies to patients at scale," said Fred Parietti, Co-Founder and CEO of Multiply Labs. "AI is designing more therapies than the industry will ever be able to manufacture.

"The world of physical AI biological manufacturing has arrived," said Dr. Patrick Soon-Shiong, founder of NantWorks. "Manufacturing cell therapies is extraordinarily complex—every step must meet GMP standards when executing the intricate processes of cell manufacturing.

Market and Business Growth

Multiply Labs is focused on automating manufacturing for advanced therapies, including cell and gene therapies, antibodies, viral vectors and mRNA therapies.

Its robotic clusters are designed to integrate with existing manufacturing instruments and processes.

The company says its systems can deliver up to 100 times more throughput than manual manufacturing and reduce cost per dose by 74%.

The robotic systems are designed to operate autonomously, allowing them to learn, adapt and run continuously. This reduces manual handoffs between manufacturing steps, where contamination risks can be higher.

What Happens Next?

Multiply Labs plans to expand its robotics and hardware engineering teams and increase industrial production of its automated manufacturing systems.

The company will also focus on commercial deployments across North America and Europe as it works to expand the use of robotics in biomanufacturing.

Read More:Maryland-Based SereNeuro Therapeutics Closes Pre-Seed Funding