Venture Capital: ElevateBio Lands $401M Series D Funding

May 25, 2023 | News, Venture Capital

The ElevateBio ecosystem combines multiple R&D technology platforms with BaseCamp®, its end-to-end genetic medicine cGMP manufacturing and process development business, to power the discovery and development of advanced therapeutics.

ElevateBio, a technology-driven company focused on cell and gene therapies, has announced the closing of a $401 million Series D financing round. The funding will be used to expand and scale ElevateBio’s cell and gene technology platforms, capabilities, and therapeutic pipeline. The company has seen significant growth over the past year, adding more than 15 new biopharma partners to its ecosystem, including collaborations with Moderna and Novo Nordisk in gene editing. ElevateBio has also made advancements in its technology platforms, including gene editing systems and multiplex base editing, allowing for the development of a wide range of therapeutics.

The Series D financing was led by AyurMaya Capital Management, with participation from new investors such as Woodline, Lee Family Office, and Novo Nordisk, as well as support from existing investors. Khalil Barrage from The Invus Group has joined ElevateBio’s Board of Directors as part of the financing. (Businesswire)

The proceeds from the financing will be used to further advance ElevateBio’s technology platforms, including gene editing, induced pluripotent stem cells (iPSCs), and RNA, cell, protein, and vector engineering. The company’s genetic medicine manufacturing and process development business, BaseCamp®, will also be accelerated. The funding will support the design, manufacturing, and development of cell and gene therapies, expand the company’s geographic reach, and increase its manufacturing capacity.

In addition, ElevateBio’s subsidiary, Life Edit Therapeutics, announced a collaboration with Novo Nordisk to discover and develop base editing therapies. This collaboration includes an equity investment, upfront cash payment, and potential milestone payments. ElevateBio’s strategy is to form industry partnerships while advancing its own portfolio of genetic medicines.

ElevateBio has made significant progress in gene editing capabilities through acquisitions and partnerships, leading to collaborations with prominent companies. The company has also expanded its iPSC platform technology and increased its manufacturing capabilities to support a growing number of cell and gene therapy innovators.

ElevateBio aims to be a leader in the development of transformative cell and gene therapies by providing turnkey scale and biotechnological capabilities. The company’s integrated technologies model combines various R&D platforms with its genetic medicine manufacturing and process development business to power the discovery and development of advanced therapeutics. ElevateBio is focused on enabling biopharmaceutical companies and building an innovative pipeline of cellular, genetic, and regenerative medicines.

Related Story:  Cure Ventures Closes $350M Fund For Innovative Life Science And Biotech Startups

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