Modicus Prime, the AI image processing
platform for drug manufacturing, is addressing the cost, legal, and
waste liabilities caused by quality control issues
AUSTIN,
Texas, July 15, 2024 /PRNewswire/ -- Modicus
Prime, resident at Johnson & Johnson Innovation – JLABS @ TMC,
announced today the completion of a $3.5M in series seed funding led by Silverton
Partners, with additional backing from Alumni Ventures and other
leading venture firms. The funding comes following the
implementation of the cloud software across multiple global
pharmaceutical companies, CMOs, and CDMOs manufacturing biologics,
cell and gene therapies, and vaccines.
Modicus Prime's mpVision is a Pharma 4.0 quality
control technology. The cloud software scales GxP-compatible
AI models for real-time quality control in commercial
manufacturing. As a hardware-agnostic software layer, mpVision
is integrated into any camera-equipped device, ranging from
microscopes to microflow imaging devices. By ensuring the identity,
efficacy, and purity of drug products, mpVision significantly
reduces costs and waste from failed batches. Regulatory bodies
including the FDA are urging pharmaceutical companies for more
in-process monitoring to understand the state of their product at
every stage of production, and mpVision enables pharmaceutical
companies to accomplish this level of oversight. The outcome
of mpVision's implementation is the reduction of quality
control failures costing the industry $50
billion annually.
Modicus Prime's team is helping drive the
industry's AI movement through keynotes, webinars, guidance
documents, and talks informing regulators. Taylor Chartier,
Modicus Prime's CEO, was selected among a group of industry experts
to create an Artificial Intelligence Good Practice Guide for the
pharmaceutical industry on behalf of the International Society for
Pharmaceutical Engineering, ISPE. This guidance is the first of its
kind for the industry, which has been highly anticipated by the FDA
and other policymakers. The guidance is projected to be heavily
referenced by pharma's quality units. In
addition, Chartier is spearheading ISPE's GxP AI Webinar
Series with fellow industry experts, which is a 6-part webinar
series on implementing AI/ML solutions in GxP environments, from
initial concept to final deployment. Over 1000 audience members
registered for the webinar series kick-off in March 2024.
A former engineer and data scientist from Shire
and Bayer Pharmaceuticals, Chartier states, "When the Modicus
Prime team meets with scientists and automation teams at pharma
companies, we usually hear about long assay and software turnaround
times limiting their ability to take immediate action during
commercial production. In response, pharmaceutical domain experts
guided the construction of mpVision's cloud ecosystem to be
their natural quality control solution."
As part of the financing round, Silverton
Partners' Roger Chen joins the
Company's board of directors.
Silverton Partner Roger Chen states, "This
company is responding to the pharmaceutical industry's current
demands, delivering a welcomed cloud technology that's already
yielding practical results. We are very enthusiastic about
supporting this movement."
Modicus Prime's team has also been informed by a
former FDA CBER Division of Manufacturing Product Quality Inspector
that they have long awaited this technology, mpVision, which is a
significant testament to the software's impact to the industry.
Modicus Prime will be using this new capital to further service
their international pharmaceutical customers with additional
customer support.
About Modicus Prime
Modicus Prime's
computer vision software automates biologics image analysis and is
designed to solve for the cost, legal, and waste liabilities from
product quality failures. As a Johnson & Johnson JLABS
resident at the Texas Medical Center, Modicus Prime is
venture-backed and has strategic partnerships with organizations
including Takeda Pharmaceuticals, Oak Ridge National Laboratory
(DOE), Dotmatics, and eLabNext (Eppendorf). Current implementation
areas for the software include biologics, cell and gene therapies,
and vaccines for pharmaceutical manufacturing, CMOs, and
CDMOs.
About Silverton Partners
The
Silverton team partners with
entrepreneurs who are dedicated to tackling growth markets and
building lasting companies. In partnering with Silverton, companies benefit from its
vast network and expertise from decades of growing and
investing in successful businesses. Founded in 2006, Silverton
Partners is based in Austin, TX,
and was the initial institutional investor for Sailpoint, WP
Engine, SpareFoot, TrendKite, TurnKey Vacation Rentals, The Zebra,
AlertMedia, SpyCloud, Self Financial, Billie, and Aceable among
others. For more information, visit
www.silvertonpartners.com.
Contact:
Taylor
Chartier
taylor@modicusprime.com
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SOURCE Modicus Prime