Cellevate, a pioneering biotech company transforming cell culture systems for next-gen biomanufacturing, has closed a successful second seed round, raising €3.2 million. The round, led by Industrifonden and co-funded by the European Innovation Council (EIC) Fund, brings Cellevate’s total equity funding to €6.6 million. The funds will fuel the aggressive commercialization of their first product, Cellevat3d™ nanofiber microcarriers, set to launch in November 2024.

This funding builds on Cellevate’s initial seed round of €3.4 million in October 2023 and follows a significant €2.6 million in grants, including €2.48 million from the EIC Accelerator in 2022. The investment underscores the potential of Cellevate’s cutting-edge technology to disrupt the biopharmaceutical manufacturing market.

Nanofiber Technology Paves the Way for Biomanufacturing Breakthroughs

Cellevate’s proprietary nanofiber-based platform, Cellevat3d™, is poised to revolutionize biomanufacturing by significantly boosting cell growth yields. Designed for the production of advanced therapies like gene and cell therapies and vaccines, this innovation offers up to 60 times the surface area for cell growth compared to traditional systems. The technology addresses key industry pain points such as low productivity and high costs, delivering a 2X increase in viral vector production (AAV2) efficiency.

Cellevat3d™ nanofiber microcarriers closely replicate the human extracellular matrix, enabling higher productivity, scalability, and efficiency in viral vector production. As the company gears up for its November 2024 launch, this technology promises to improve yield and scalability in bioreactors—critical for gene therapy manufacturing.

Strategic Investment for Global Expansion

With the additional funding, Cellevate is primed to scale its global operations. The investment will help establish a commercial team in North America, expand field application support to accelerate customer onboarding, and enhance production capabilities. Moreover, the funds will support a robust marketing campaign for the global launch of Cellevat3d™ microcarriers.

Laura Chirica, CEO of Cellevate, expressed her enthusiasm for the continued investor support, stating: “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.”

Investor Confidence Signals Bright Future

Mala Valroy, Investment Manager at Industrifonden and Board member at Cellevate, highlighted the company’s progress: “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, added: “The timing for introducing such advanced biomanufacturing solutions is ideal. As the demand for improved productivity in gene therapy grows, Cellevate’s innovative nanofiber-based technology offers a promising solution.”

Svetoslava Georgieva, Chair of the EIC Fund Board, echoed these sentiments: “Cellevate has achieved critical milestones, and we are excited to continue supporting their journey toward commercialization. Their nanofiber-based technology is a groundbreaking innovation in biomanufacturing, and we look forward to seeing it transform the industry.”