# Paragon Bioservices

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/paragon-bioservices

- Industry: Pharmaceuticals
- Headquarters: Baltimore, US
- Website: www.paragonbioservices.com
- Total disclosed funding: $13M
- Latest round: Series A (Oct 28, 2014)
- Investors on record: 2

## About

Paragon Bioservices, Inc. is a biotechnology service provider specializing in the development and manufacturing of biologics, with a focus on gene therapies and viral vectors.Paragon Bioservices, Inc. was founded in 1990 in Baltimore, US, and operates as a subsidiary of Catalent, Inc. The company focuses on biologics development and was acquired by Catalent in a deal worth USD 1.2 billion, finalized in May 2019. The firm has engaged in five deals since its inception, with the latest funding round occurring in April 2019.Catalent, through its acquisition of Paragon Bioservices, offers a comprehensive suite of services primarily focused on the development and manufacturing of biologics, particularly gene therapies and viral vectors. Their core product offerings include extensive expertise in the development of adeno-associated virus (AAV) vectors, which serve as delivery vehicles for gene therapies. Catalent's capabilities encompass biomanufacturing, drug product fill/finish services, and analytical testing, all designed to support clinical and commercial stages of biologic products. Their customer base includes biopharmaceutical companies ranging from startups to established enterprises, primarily in North America and Europe, seeking to accelerate the development of innovative therapies. The company operates state-of-the-art facilities, including those in Baltimore, MD, enhancing their ability to meet the growing demand for gene therapy solutions.Catalent generates revenue through a diversified transactional structure that includes partnerships and B2B contracts with biopharmaceutical clients. Typically, revenue is derived from service agreements encompassing a range of activities such as process development, manufacturing, and fill/finish services, tailored to the specific needs of each client. These agreements often involve milestone payments tied to the progress of product development and regulatory approval phases. Pricing structures vary based on the complexity and scale of services, with flagship products such as their AAV vector manufacturing services being central to their revenue model. Catalent's direct engagement with clients ensures a focused effort on delivering tailored solutions that address unique therapeutic challenges, reinforcing its position in the competitive biologics market.Catalent plans to leverage the resources from its acquisition of Paragon Bioservices to enhance its product offerings and expand geographically. The firm aims to increase its capabilities in the development of gene therapies and viral vectors. The recent acquisition for USD 1.2 billion is intended to bolster its production capacity and innovation in biologics. Catalent is targeting expansion into new markets in Europe and Asia by the end of 2021, aligning with the growing demand for advanced biologics and gene therapy solutions.

## Funding rounds

- Series A, Oct 28, 2014, $13M — Camden Partners, NewSpring

## Investors

- Camden Partners (https://capitalatlas.ai/funds/camden-partners) — Series A
- NewSpring (https://capitalatlas.ai/funds/newspring) — Series A