WALTHAM, Mass., [Date] /PRNewswire/ — ElevateBio, a dynamic technology company headquartered in Waltham, Massachusetts, has successfully raised an impressive $401 million in its Series D funding round. The round was led by AyurMaya Capital Management Fund, managed by Matrix Capital Management, and saw participation from a diverse group of new and existing investors, further bolstering ElevateBio’s syndicate.
As a leader in the field of cell and gene therapies, ElevateBio is committed to developing groundbreaking treatments that have the potential to transform lives. Under the guidance of CEO David Hallal, the company has established an integrated technologies model that provides the necessary scale and biotechnological capabilities to power the development of cell and gene therapies. ElevateBio’s ecosystem combines several R&D technology platforms, including Life Edit, a comprehensive gene-editing platform, a proprietary induced pluripotent stem cell (iPSC) platform, and an advanced RNA, cell, protein, and vector engineering platform. These platforms work in harmony with BaseCamp, ElevateBio’s state-of-the-art genetic medicine cGMP manufacturing and process development business, to drive the discovery and development of advanced therapeutics. ElevateBio also has a robust pipeline of cellular, genetic, and regenerative medicines.
With the latest funding infusion, ElevateBio plans to advance its cutting-edge technology platforms, Life Edit and BaseCamp. These platforms are key to driving breakthrough innovations in the field of cell and gene therapies, enabling ElevateBio to push the boundaries of what is possible in medical science.
Notably, ElevateBio’s integrated subsidiary, Life Edit Therapeutics, has also announced a significant collaboration with Novo Nordisk, a leading healthcare company. This collaboration will focus on the discovery and development of base editing therapies. Alongside the equity investment from Novo Nordisk, Life Edit will receive an upfront cash payment and stands to gain potential development, regulatory, and commercial milestones amounting to $250-$335 million for each of the seven programs under the collaboration. Additionally, Life Edit retains the option to participate in a global profit share for one program, further solidifying the partnership’s potential for success.
The Series D funding round marks a major milestone for ElevateBio and reinforces its position as an industry leader in the pursuit of innovative cell and gene therapies. With the support of an extensive network of investors and strategic collaborations, ElevateBio is poised to accelerate its mission of delivering life-changing treatments to patients in need.