Eleva, a Freiburg, Germany-based manufacturer of superior biologics, secured up to €60m in funding.
Zukunftsfonds Heilbronn (ZFHN) provided the capital
Eleva leverages its moss-based production platform to produce supreme biologics like antibodies, replacement enzymes, or fusion toxins.
The company, which has developed drug candidates into clinical phases, intends to use the funds to advance one of its drug candidates, CPV-101, to stages that will facilitate further investment from venture capitalists and/or pharmaceutical companies.
Eleva also announced the addition of Dr. Ralf Smit as CBO (Chief Business Officer) to its Executive Board. Ralf Smit has over 25 years of experience in business development and commercialization with pharmaceutical companies (Roche, BioStrat). Previously an advisor to Eleva, he will now head its Clinical and Business Development.