NantWorks Leads $75M Series B Round for Pharma Automation Startup Multiply Labs

Multiply Labs has secured $75 million in Series B funding to support its development of automated pharmaceutical manufacturing systems. NantWorks led this investment round, providing capital to the startup that builds robotic equipment for drugmakers.

What happened

Multiply Labs Inc. completed a $75 million Series B funding round according to a report published by Maria Deutscher. The investment was led by NantWorks, an organization connected to Patrick Soon-Shiong. The startup focuses on developing automation equipment specifically designed for drugmakers and pharmaceutical manufacturers.

This funding event was reported by Maria Deutscher in coverage published under the SiliconANGLE brand. The report identifies Multiply Labs as the recipient of the capital injection. The primary purpose of the funding is to support the company’s ongoing development of robotic systems. These systems are intended to automate various processes within pharmaceutical manufacturing environments.

The transaction represents a significant capital raise for the automation startup. NantWorks took the lead position in this specific funding round. The company uses this capital to advance its technological capabilities in the pharma sector. The focus remains strictly on hardware and automation solutions for drug production.

Why it matters

Pharmaceutical manufacturers are increasingly seeking ways to streamline production through automation. Multiply Labs aims to address this need with specialized robotic systems. The $75 million investment signals confidence in the viability of automated drug manufacturing. This capital allows the startup to scale its operations and develop its technology further.

Patrick Soon-Shiong’s involvement through NantWorks adds strategic weight to the investment. His background in biotechnology and healthcare aligns with the startup’s mission. The funding supports the expansion of equipment that reduces manual labor in drugmaking. This automation can potentially increase efficiency and consistency in pharmaceutical production.

The success of this funding round highlights the growing importance of robotics in healthcare supply chains. Investors are backing companies that can modernize traditional manufacturing processes. Multiply Labs positions itself as a key player in this emerging sector. The capital will likely accelerate the deployment of their robotic systems.

What to watch

• Monitor Multiply Labs for announcements regarding new product releases or partnerships.
• Watch for further investment rounds that may indicate broader industry adoption.
• Observe how NantWorks integrates Multiply Labs into its broader healthcare strategy.
• Track regulatory approvals for automated pharmaceutical manufacturing equipment.

What to do and how to stay safe: Multiply Labs

• Review current pharmaceutical manufacturing processes for potential automation opportunities.
• Evaluate the security implications of integrating new robotic systems into production lines.
• Assess vendor lock-in risks when adopting specialized automation equipment from startups.
• Verify compliance requirements for automated drug production before implementation.

Step-by-step guide: Software Updates Best Practices: Secure Patching Without Downtime

General security guidance from the Patch Gazette newsroom. It is not confirmed advice from the organisations named in this story.

Frequently asked questions

How much funding did Multiply Labs raise in its Series B round?

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

Who led the Series B funding round for Multiply Labs?

NantWorks, associated with Patrick Soon-Shiong, led the Series B funding round.

What type of systems does Multiply Labs develop?

Multiply Labs develops robotic systems to automate pharmaceutical manufacturing processes.