ElevateBio Announces $401 Million Series D Financing to Further Accelerate Growth

ElevateBio, LLC (ElevateBio), a technology-driven company focused on powering the creation of life-transforming cell and gene therapies, announced the closing of its $401 million Series D financing led by the AyurMaya Capital Management Fund, managed by Matrix Capital Management, and joined by a leading group of new and existing investors. ElevateBio’s syndicate now includes new investors Woodline, Lee Family Office (Asia), and R&D partner Novo Nordisk, as well as existing investors: Matrix Capital Management, The Invus Group, Emerson Collective, SoftBank Vision Fund 2, Fidelity Management & Research Company, MPM Capital, F2 Ventures, Redmile Group, EcoR1 Capital, Samsara BioCapital, Surveyor Capital (a Citadel company), EDBI, Vertex Ventures, iTochu, and a large institutional investor. In connection with the financing, Khalil Barrage, Managing Director of The Invus Group, was appointed to ElevateBio’s Board of Directors.

Proceeds from the financing will be used to further advance the company’s technology platforms – Life Edit gene editing, induced pluripotent stem cells (iPSCs), and RNA, cell, protein, vector engineering – and BaseCamp®, its end-to-end genetic medicine current Good Manufacturing Practice (cGMP) manufacturing and process development business, to accelerate the design, manufacturing, and development of cell and gene therapies. The funding will also support ElevateBio’s continued efforts to expand its geographic reach and increase its cGMP manufacturing capacity to provide its academic and industry partners with turnkey and scalable access to technologies and services across the full-product lifecycle.

Since its previous financing round in 2021, ElevateBio has supercharged its gene editing capabilities through the acquisition, integration, and growth of Life Edit’s novel RGN and base editing technologies, leading to multiple partnerships, including the recently announced collaborations with Moderna Therapeutics and Novo Nordisk.

To read the full press release, click HERE