Cell and gene therapy startup ElevateBio raises $170 million – TechCrunch

Cell and gene therapy startup ElevateBio raises $170 million – TechCrunch

Although the atmosphere may not be the best environment for fundraising for the current global Corona virus pandemic disease fund, some companies are still announcing a roundabout with significant money. For example, Cambridge-based Elliott Bio on Monday revealed a $ 170 million Series B funding, with new investors Anos Group, Surveyor Capital, ADBI, and existing investors with Vortex Ventures. With F2 Ventures, MPM Capital, AQR1 Capital, Redmail Group and Samsara Bio Capital.

Elliot Bev, which was formally launched to the public less than a year ago, specializes in the development of new types of cellular and genetic treatments, and runs new companies under its portfolio. Each one is dedicated to specific development and preparation. Therapeutic Approach These funds have raised more than $ 300 million in total through EliteBuy, the company, led by the Swiss investment bank UBS ‘Oncology Impact Fund, announced last year the A150 million Series A round. on top of.

The biotech company has steadily stepped up, approaching a 140,000-square-foot completion to focus on R&D in Massachusetts. He also started a company called Elvare, which is working on T-cell immunotherapy to deal with the virus that specifically gives rise to stem cell transplants, and is already in the final stages of clinical trials. Eventually, he started another company called Highpass Passive, which aims to help stem cell-related diseases stem from T-cell treatment, especially around the possibility of recurrence of leukemia after a transplant. Pass.

As you might expect, Elliott Bev is also focusing some of his efforts on research that focuses on reducing the effects of COVID-19. Specifically, its Aloevir subsidiary has extended an existing research agreement with Baylor College of Medicine to work on developing a variety of T-cell therapies that can protect patients who have these conditions. Protect pregnant patients who compromise their immune system and may put them at risk of COVID. -19

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