Avectas, a Dublin, Ireland- and Cambridge, MA-based cell engineering technology company, completed a US$10m equity financing.
The round was led by Seamus Mulligan.
The company intends to use the funds to accelerate the development, scale-up and commercialisation of Solupore®.
Founded in 2012 as a spin-out from Maynooth University in Ireland by Dr. Michael Maguire and Dr. Shirley O’Dea, and also led by Chief Scientific Officer and business development Director Dr Gillian Hendy, Avectas is developing a patented, non-viral, cell engineering technology which efficiently engineers therapeutic cells, at scale, while maintaining optimal cell functionality.
The company collaborates with cell and gene therapy businesses and academic institutions to address their cell engineering challenges using its patented Solupore® technology.
Avectas has 24 employees including 13 with doctorate degrees.