[Image from the Cellevate website]
Industrifonden led the round in syndication with the European Innovation Council Fund (EIC Fund). The funding, combined with the first seed round last October, brings the company’s total funding to approximately 7.3 million. Lund, Sweden-based Cellevate says that it intends to prepare to aggressively commercialize its first product, Cellevat3d, in November 2024.
The company designed its Cellevat3d nanofiber microcarriers for biomanufacturing next-generation therapies, including cell and gene therapies and novel vaccines. This technology provides up to 60 times the surface area for cell growth compared to current standards, according to a news release. It significantly enhances yields in bioreactors, the company says.
Cellevate aims to improve yield, scalability and productivity of viral vectors produced in gene therapy applications. Its scalable, single-use microcarriers closely mimic the human extracellular environment. The company says they demonstrate two times higher productivity for viral vector production (AAV2) compared to market standards.
With the funding, Cellevate expects to push forward with its ambitious commercialization plans with a global launch. It plans to use funds to establish a commercial team in North America ahead of the market introduction of Cellevat3d.
“We are excited and grateful for the continued support from our dedicated syndicate of investors, who continue to share our vision for transforming biomanufacturing. This renewed investment is dedicated to achieving the most important milestone for Cellevate: the successful global launch, commercialization, and sales of the first nanofber based microcarriers in upstream bioprocessing,” said Laura Chirica, CEO of Cellevate.
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