Cell and gene therapy CDMO AmplifyBio ends operations, cites scarcity of investor financing

Ohio-based contract development and manufacturing organization AmplifyBio is calling it quits after four years in business, according to a statement posted on the company’s website. 

“It is with deep sadness and gratitude that we announce the closure of AmplifyBio’s operations,” the company said in a statement. “This decision comes after months of tireless efforts by the AmplifyBio leadership team, investors and other key stakeholders to explore and exhaust all investment and acquisition possibilities.”

AmplifyBio was launched in early 2021 with $200 million in financing from non-profit research and development institution Battelle, along with other investors including J.D. Vance’s venture fund Narya Capital, Viking Capital, and Casdin Capital. Vance founded Narya Capital in 2020, before leaving in late 2022 and later becoming Vice President in the Trump administration in January 2025.

As a startup, the company noted that its growth strategy “relied on meeting revenue targets and a supportive investor climate.” While market conditions were “favorable” for early-phase drug development when AmplifyBio was founded in 2021, that market sector has “experienced a significant shift over the last couple of years leading to a scarcity of investor financing for early-stage biotech companies, which greatly impacted the ability to grow.”

In its statement, AmplifyBio thanked its employees, customers, and partners.

“Over the years, we have collaborated with industry leaders to advance novel medicines and improve human health,” the company said. “For any inquiries regarding ongoing projects or transition plans, please contact [email protected].”

In December 2024, Silo Pharma announced the initiation of a pharmacokinetic and tolerability study in partnership with AmplifyBio to advance Silo’s drug candidate for chronic pain through a critical safety milestone.

In May, Xcell Biosciences announced it was teaming with AmplifyBio to streamline and improve the manufacturing process for engineered T-cell receptor therapies targeting solid tumors. The previous month, AmplifyBio and RNAV8 Bio announced a strategic partnership to support mRNA therapeutic developers from sequence design to GMP manufacture.

AmplifyBio in late 2023 opened a new business unit to “further expand its reach into the manufacturing of next-generation therapies that include cell, gene, mRNA, and other advanced modalities,” with plans for a 350,000-square-foot operation in New Albany, Ohio. The opening of the Amplify Manufacturing Enablement Center (AMEC) was announced in February 2024.