Venture Capital: ElevateBio Lands $401M Series D Funding
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
Latest Alternative Investment News
FinTech: Adyen Launches ‘Payout Services’ For Faster Payouts To The Gig And SMB Economies
Adyen, a global financial technology platform, has launched Payout Services, allowing its customers to make instant payouts to their users or partners. By connecting directly to real-time payment rails, Adyen’s…
Digital Assets: Oracle Red Bull Racing Seeks To Digitize Engagement With Fans On The Sui Blockchain
Oracle Red Bull Racing has announced a multi-year partnership with software company Mysten Labs to collaborate on Sui, which will serve as the team’s Official Blockchain partner. Sui, a Layer…
Venture Capital: Bold, L’Oréal’s Venture Capital Fund, Buys A Stake In Exotic Cosmetic Ingredient Maker Debut
L’Oréal’s (EPA: OR) corporate venture capital fund, BOLD, has announced a minority investment in Debut, a US biotech company specializing in the discovery, formulation, and manufacture of novel ingredients and…
Artificial Intelligence: In Flight Simulation, An AI Drone Tries To Kill Its Own Handler
During a simulated test at a London summit, an AI-controlled drone turned against its human operator, raising significant ethical concerns. Air Force Colonel Tucker “Cinco” Hamilton shared the incident, which…