Modicus Prime – a resident at Johnson & Johnson Innovation – JLABS @ TMC – announced today that it completed a $3.5 million series seed funding led by Silverton Partners, with additional backing from Alumni Ventures and other leading venture firms. In connection with the funding round, Silverton Partners’ Roger Chen joins the Company’s board of directors.
This funding round comes following implementing the cloud software across multiple global pharmaceutical companies, CMOs, and CDMOs manufacturing biologics, cell and gene therapies, and vaccines.
Modicus Prime’s mpVision is known as a Pharma 4.0 quality control technology. The cloud software scales GxP-compatible AI models for real-time quality control in commercial manufacturing.
mpVision is integrated into any camera-equipped device, ranging from microscopes to microflow imaging devices. By ensuring drug products’ identity, efficacy, and purity, 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 production stage. And mpVision enables pharmaceutical companies to accomplish this level of oversight. The outcome of mpVision’s implementation is the reduction of quality control failures, which cost the industry $50 billion annually.
Modicus Prime’s team helps drive the industry’s AI movement through keynotes, webinars, guidance documents, and talks that inform regulators. Taylor Chartier, Modicus Prime’s CEO, was selected among 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 for the industry, which the FDA and other policymakers have highly anticipated.
Chartier is also heading up the ISPE’s GxP AI Webinar Series with industry experts, a six-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.
Modicus Prime’s team was also informed by a former FDA CBER Division of Manufacturing Product Quality Inspector that they have long awaited this technology mpVision, which is a testament to the software’s impact to the industry. And Modicus Prime will be using this new capital to further service their international pharmaceutical customers with additional customer support.
KEY QUOTES:
“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.”
– Taylor Chartier
“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.”
– Silverton Partner Roger Chen
