Kannapolis-based pharmaceutical company raises $20 million, will hire staff and accelerate the commercialization of its portfolio

CANNAPOLIS – Pharmaceutical company GENIXUS, based at a facility at the David H. Murdock Research Institute in Kannapolis, closed a $20 million financing and plans to allocate the new capital to support the development and commercialization of its portfolio of “ready novels to work”. administer products for the hospital setting,” the company noted in a statement.

CEO and co-founder Kendall Foster noted in the statement that the new funding will allow the company “to significantly accelerate our development programs and establish our manufacturing and commercial operations in preparation for product launches.”

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The company expanded its facilities in 2021, and the funding will allow the company to add additional staff and infrastructure, which will result in increased manufacturing capacity and capabilities, according to the company’s statement.

“This funding puts us in an excellent position to grow in 2022,” Seth Coombs, co-founder and chief commercial officer of GENIXUS, said in a statement. “With these funds, we can accelerate our efforts to simplify acute and critical care products to support optimal patient care across the United States.”

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