ElevateBio, LLC, a Waltham, Mass. – based creator and operator of a portfolio of innovative cell and gene therapy companies, closed a $170m Series B financing.
New investors The Invus Group, Surveyor Capital (A Citadel company), EDBI, and Vertex Ventures joined existing investors F2 Ventures, MPM Capital, EcoR1 Capital, Redmile Group, and Samsara BioCapital, all of whom also participated in this financing. Additionally, Germano Giuliani will join ElevateBio’s Board of Directors.
The company intends to use the funds:
- to be fully operational with cGMP manufacturing,
- to advance clinical development with at least six cell and gene therapies from across its portfolio companies,
- to enter clinical studies this year and into 2021, and
- to continue development of its enabling technology platforms.
Led by David Hallal, Co-Founder and Chief Executive Officer, ElevateBio is a creator and operator of a portfolio of innovative cell and gene therapy companies. It begins with an environment where scientific inventors can transform their visions for cell and gene therapies into reality for patients with devastating and life-threatening diseases. Core to its vision is BaseCamp, a centralized innovation and manufacturing center, providing fully integrated capabilities, including basic and transitional research, process development, clinical development, cGMP manufacturing, and regulatory affairs across multiple cell and gene therapy and regenerative medicine technology platforms.