Abzena raises growth capital from newly launched Biospring Partners

Abzena has raised $10m in growth capital from Biospring Partners, a New York firm launched this year by Michelle Dipp and Jennifer Lum.

Abzena, a research organization providing development and manufacturing for biopharmaceutical companies, announced it has raised a $10 million growth capital investment from Biospring Partners, a newly launched New York firm. Biospring said the funding will allow Abzena to accelerate its growth plans. The company, owned by Welsh Carson Anderson & Stowe, has facilities in Cambridge, UK, San Diego and Philadelphia.

This is the first investment announced by Biospring Partners, a growth-stage life sciences investor founded this year by Michelle Dipp and Jennifer Lum.

As part of its investment in Abzena, Dipp will join the company’s board.

Source: Biospring Partners