RheaVita, a Ghent, Belgium-based provider of freeze-drying technology for biopharmaceutical products, raised €2.5M in Series A funding.
The round was led by Novalis Biotech Acceleration and Participatie Maatschappij Vlaanderen (PMV). Concurrent with the financing, Kjell Mortier from Novalis Biotech Acceleration and Stefan De Waele of PMV will join RheaVita’s Board of Directors.
The company intends to use the funds to build a GMP compliant biopharmaceutical continuous, controlled, freeze-drying production line and accelerate commercialization of its technology.
Founded in 2018 as a spin-out of Ghent University and led by Jos Cover, CTO, and Prof. Dr. Thomas De Beer, CEO, RheaVita has developed a continuous freeze-drying solution to address biopharmaceutical product development, manufacturing and supply needs in order to reach patients. Its patented continuous freeze-drying technology integrates all the traditional freeze-drying process steps into one continuous production line to allow pharmaceutical companies to achieve rapid product and process development, and manufacturing cycles with controlled product quality. The technology enables both centralized large volume and decentralized low-volume-high-value product manufacturing and is suited for innovative biological therapies, such as gene therapy, RNA based therapies, antibodies, vaccines, and to produce precision medicines and drug products for rare diseases.
The company will use the funds to further develop and accelerate commercialization of its R&D and GMP compliant continuous freeze-drying production-scale equipment, along with team expansion.