Cellevate Secures €3.2 Million to Revolutionize Biopharmaceutical Manufacturing with Nanofiber Technology

In a significant advancement in biotech innovation, Cellevate has successfully completed its second seed funding round, raising an impressive €3.2 million to accelerate the commercialization of its groundbreaking Cellevat3d™ nanofiber microcarriers. This funding round, led by Industrifonden and co-financed by the European Innovation Council (EIC) Fund, cumulatively elevates Cellevate's total equity funding to €6.6 million.

Aiming for a Market Shift in Biopharmaceutical Manufacturing

Cellevate's pioneering technology represents a potential paradigm shift in the biopharmaceutical manufacturing landscape. This fresh influx of capital follows a robust initial seed funding round of €3.4 million completed in October 2023, complemented by €2.6 million in grants, which notably includes a substantial €2.48 million from the EIC Accelerator in 2022. This strategic investment underscores the significant promise of Cellevate's innovative solutions to tackle the pressing challenges faced by biomanufacturers.

Unveiling the Cellevat3d™ Nanofiber Microcarriers

The heart of Cellevate's technology lies within its proprietary nanofiber-based platform, Cellevat3d™. This cutting-edge system is engineered to enhance cell culture systems, offering a staggering 60 times the surface area for cell growth compared to conventional methodologies. The implications for advanced therapies—such as gene and cell therapies, as well as vaccines—are profound. This platform directly addresses the industry’s critical pain points related to low productivity and high operational costs, delivering a remarkable 2X increase in the efficiency of viral vector production, specifically for Adeno-Associated Viruses (AAV2).

Enhanced Productivity and Scalability

The Cellevat3d™ microcarriers expertly mimic the human extracellular matrix, thus facilitating higher productivity and scalability in viral vector production. As the clock ticks down to the November 2024 launch of this transformative product, Cellevate is set to revolutionize the yield and scalability of bioreactor processes—elements that are crucial for the burgeoning field of gene therapy manufacturing.

Funding Utilization Strategy for Global Expansion

The newly acquired capital is earmarked for expanding Cellevate's global footprint. The funding will bolster efforts to establish a commercial team in North America, enhance field application support to facilitate swift customer onboarding, and improve production capabilities. Furthermore, the investment will bolster a strategic marketing campaign aimed at the global introduction of Cellevat3d™ microcarriers.

Strategic Vision from Leadership

Laura Chirica, CEO of Cellevate, expressed optimism regarding the unwavering support from investors, articulating, “This renewed investment enables us to achieve our most important milestone: the successful global launch of our first nanofiber-based microcarriers in upstream bioprocessing. We are deeply grateful for the backing of our investors who share our vision of transforming biomanufacturing.”

Investors Show Confidence in Cellevate's Vision

Mala Valroy, Investment Manager at Industrifonden and Board member at Cellevate, noted the strategic importance of the funding, asserting, “We are impressed by the team’s preparation for this pivotal product launch. This investment positions Cellevate for international expansion, driving significant improvements in yield and productivity for gene therapy manufacturers.”

Uwe Gottschalk, Chairman of Cellevate’s Board and Operating Partner at Keensight Capital, highlighted the timeliness of such innovations: “The timing for introducing advanced biomanufacturing solutions is ideal. As demand for improved productivity in gene therapy escalates, Cellevate’s innovative nanofiber-based technology offers a compelling solution.”

Svetoslava Georgieva, Chair of the EIC Fund Board, echoed this optimism: “Cellevate has achieved critical milestones, and we are excited to continue supporting their commercialization journey. Their nanofiber-based technology is a groundbreaking innovation in biomanufacturing; we anticipate its transformative impact on the industry.”

Conclusion

Cellevate’s innovative approach to biomanufacturing through its Cellevat3d™ nanofiber microcarriers positions it at the forefront of a critical industry evolution. With substantial financial backing and a clear roadmap for product launch and global expansion, Cellevate is poised not only to optimize production efficiency in the biopharmaceutical sector but also to set a new standard within the industry. This infusion of capital represents not merely an investment in a company, but an investment in the future of healthcare solutions that could redefine therapeutic possibilities on a global scale.