Pharmaceutical ingredient manufacturer Antheia announced today that it completed a second close of its Series C financing.
The company added $24 million to the Series C round, bringing the total round to $80 million. It announced the first close of $56 million in funding in June 2025. Combined with additional capital and non-dilutive funding, including through projects with the U.S. government, the company touts more than $175 million secured over the past year.
Athos KG and America’s Frontier Fund led the second close. Existing investors, including Global Health Investment Corporation (GHIC), participated as well.
Antheia plans to use proceeds to expand its commercial manufacturing capacity. It also intends to advance its pipeline of late-stage biosynthetic pharmaceutical ingredients to market and establish U.S. manufacturing operations to support national onshoring priorities.
The company said its latest funding follows a number of milestones over the past couple of years. It recently reported the first commercial delivery of thebaine (the key ingredient used to produce Narcan) and two U.S. government project agreements to onshore pharmaceutical supply chains. At the end of last year, the company also entered into a strategic partnership with TAPI to further commercialize its pipeline.
“Advanced biosynthesis has immense potential to transform pharmaceutical supply chains and unlock a new era of innovative medicines,” said Dr. Christina Smolke, CEO and co-founder of Antheia. “Building on the success of our Series C, this additional infusion of capital will fuel our efforts to address urgent supply chain vulnerabilities and more broadly, lead a paradigm shift for pharmaceutical manufacturing.”
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