BioRexis began operations in July 2002, adjacent to the University of Pennsylvania campus in Philadelphia, Pennsylvania. In December 2002, BioRexis relocated operations to a 44,000-square-foot facility in the Philadelphia suburb of King of Prussia. This facility consists of designated office, laboratory, manufacturing, and warehouse space that will meet the company’s needs for continued growth well into the future. The company’s in-house cGMP facility began production of clinical supplies in 2005.
In our first round of financing in July 2002, BioRexis raised $8 million from three venture capital firms. In March 2004, BioRexis raised a further $30 million in a second round of financing. BioRexis is the first investment of a fund established to invest a portion of Pennsylvania’s share of the Tobacco Settlement Fund in life sciences companies and has been awarded two grants from the Commonwealth of Pennsylvania.