Cell therapy weekly: Stem cell company raises over €7M to scale-up C-Stem™ technology
This week: Software developed for cell therapy automation and ElevateBio launches with $150M to support cell and gene therapy startups.
The news highlights:
Stem cell company raises over €7M to scale-up C-Stem™ technology
Software developed for cell therapy automation
ElevateBio launches with $150M to support cell and gene therapy startups
Stem cell company raises over €7M to scale-up C-Stem™ technology
TreeFrog Therapeutics (Bordeaux, France), an expert stem cell company, declared that it has raised over €7.1M in Series A financing which they plan to fund the scale-up of the company’s proprietary C-Stem™ technology for mass production of safe and affordable cell therapies. The money will also contribute towards the development of collaborative research programs in a variety of areas including Huntingdon’s disease, Parkinson’s disease, heart failure and diabetes with the objective being to reach a first-in-man clinical trial by 2024.
President and CSO at TreeFrog Therapeutics, Maxime Feyeux, commented: “This Series A round marks the culmination of a global fundraising effort, which includes seed capital and non-dilutive funds, to the amount of approximately €8M ($9M). We now have the resources to meet our milestones, build our capacities and secure our plan for growth. In addition to the investors who have put their trust in us, we are very grateful to the French Investment Bank Bpifrance, the Nouvelle-Aquitaine Regional Council, the ENSTBB bioproduction school and the UNITEC incubator for their support.”
Software developed for cell therapy automation
GE Healthcare (IL, USA) have announced the commercial launch of the Chronicle™ web application — the next generation development of the company’s my.Cryochain™ software — now supporting the complete cell therapy workflow. The new automation software includes features such as real-time supply chain tracking, hardware performance monitoring and comprehensive electronic batch records to provide its users with a fit-for-purpose digital solution designed to optimize complex cell therapy process development and manufacturing.
“The full potential of cell and gene therapies cannot be realized without comprehensive digital solutions that optimize manufacturing processes and can scale from process development to commercialization,” explained Catarina Flyborg, General Manager at GE Healthcare. “Chronicle automation software was designed to meet the digital needs of academic researchers and large biotechnology companies and will help ensure increased patient access to life-saving therapies.”
ElevateBio launches with $150M to support cell and gene therapy startups
A new biotechnology holding company, ElevateBio (MA, USA), announced its launch with $150M in Series A funding to support cell and gene therapy startups. The company will partner with scientific founders to help streamline the development of companies by providing centralized bench-to-bedside capabilities including scientists, manufacturing facilities, and expertise in drug development and commercialization. These services are currently performed at ElevateBio BaseCamp, an established single R&D, process development and cGMP manufacturing company in Cambridge, Massachusetts, with a second BaseCamp being built in Waltham, Massachusetts to expand ElevateBio’s capabilities.
“In the field of cell and gene therapies, as well as regenerative medicine products, the lack of high-quality process development and manufacturing capability is among the most significant barriers to moving these therapies forward,” commented ElevateBio’s Chief Scientific Officer, Mitchell Finer. “Together, we are reducing inefficiencies that drain capital and delay new therapies, so that we can rapidly and successfully move novel candidates from concept to commercialization.”
For more weekly cell therapy news, read previous editions of the cell therapy weekly.