Cellevate raises 39 million SEK in Seed Financing to accelerate their global commercial launch
Cellevate, an innovative biotech company that develops the next generation of cell culture systems designed to revolutionize biomanufacturing, announced today the successful closure of its recent investment round, securing a total of 39 million SEK. The round was led by Industrifonden, in syndication with the European Innovation Council Fund (EIC Fund) and Onsight Ventures.
Cellevate’s proprietary nanofiber-based technology – Cellevat3d™ – represents a groundbreaking innovation developed for biomanufacturing of next-generation therapies, including cell and gene therapies and novel vaccines. The nanomaterial provides the highest surface area for cell growth, up to 60 times, compared to today’s standards, allowing for more cells and thereby higher yields to be obtained from different bioreactors. By removing the restrictions of the traditional non-woven formats, and taking nanofiber materials into the 3rd dimension, Cellevat3d™ overcomes the current scalability challenges in biomanufacturing. Cellevate aims to accelerate the biomanufacturing revolution by unblocking these bottlenecks, thus enabling more patients around the world to gain access to life-changing therapies.
Laura Chirica, PhD, CEO Cellevate said: “We are thrilled to have gained tremendous support from such a strong syndicate of investors, who share our vision of transforming biomanufacturing. This investment represents a significant milestone for our company and a valuable endorsement for the potential of our Cellevat3d™ nanotechnology, allowing us to take the next pivotal steps on our journey. The financing will enable us to accelerate commercialization and to progress towards our goal of making a lasting impact in the global healthcare landscape.”
The new capital will be instrumental in driving Cellevate’s ambitious plans for commercialization and facilitating a global product launch. Specifically, the funds will be allocated towards growing the team, establishing robust manufacturing capabilities, and launching the company’s revolutionary nanofiber-based products in key markets.
Mala Valroy, Investment Manager at Industrifonden and incoming board member of Cellevate, commented: “We are impressed by Cellevate’s groundbreaking technology and the team behind it. This investment reflects our commitment to supporting pioneering companies that have the potential to revolutionize the industry. We look forward to a long-term partnership with Cellevate as they advance their mission of driving innovation in biomanufacturing.”
Herman Hauser, PhD, serial entrepreneur, Venture Partner, and advisor at Onsight Ventures said: “As cell culture and biomanufacturing processes do play an increasingly important role, we are looking for start-ups like Cellevate that have the potential to set new industry standards.”
Svetoslava Georgieva, Chair of the EIC Fund Board, said: “The EIC Fund has established itself as a strong force in EU deep-tech investments. This unique form of financing via EIC – combining grants and equity – is proving itself highly attractive to Europe’s most promising start-ups. Our investment will provide Cellevate with means to scale up their nanotechnology and accelerate their global commercial launch.”