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Financing › Details

CIRM–California (govt): grant, 202208 existent $5.5b in funding from state of California for CIRM

 

Period Period 2022-08-23
Region Region California (federal state)
  Country United States (USA)
Organisations Money taker California Institute for Regenerative Medicine (CIRM)
  Group California (govt region)
  Money source California (govt region)
Products Product tissue engineering / regenerative medicine
  Product 2 business development (state/region)
     

ElevateBio, LLC. (8/23/22). "Press Release: ElevateBio Partners with the California Institute for Regenerative Medicine to Accelerate the Development of Regenerative Medicines". Waltham, MA.

> ElevateBio to enable access to multiple induced pluripotent stem cell (iPSC) lines suitable for research through clinical development and commercialization

> ElevateBio to offer end-to-end development and GMP manufacturing capabilities to bring concepts to commercialization for regenerative medicines


ElevateBio, LLC (ElevateBio), a technology-driven company focused on powering transformative cell and gene therapies, today announced that it has partnered with the California Institute for Regenerative Medicine (CIRM) to advance the discovery and development of regenerative medicine as part of CIRM’s Industry Alliance Program. Through the partnership, ElevateBio will provide access to high quality, well-characterized iPSC lines to academic institutions and biopharmaceutical companies that are awarded CIRM Discovery and Translational Grants. ElevateBio will also offer access to its viral vector technology, process development, analytical development, and Good Manufacturing Practice (GMP) manufacturing capabilities that are part of its integrated ecosystem built to power the cell and gene therapy industry.

“This exciting partnership with CIRM reflects the novelty of our iPSC platform and recognition of our next-generation cell lines that address industry challenges and could potentially save time and costs for partners developing iPSC-derived therapeutics,” said David Hallal, Chairman and Chief Executive Officer of ElevateBio. “We are setting a new standard with iPSCs that can streamline the transition from research to clinical development and commercialization and leveraging our unique ecosystem of enabling technologies and expertise to help strategic partners harness the power of regenerative medicines.”

With $5.5 billion in funding from the state of California, CIRM has funded 81 clinical trials and currently supports over 161 active regenerative medicine research projects spanning candidate discovery through phase III clinical trials. As part of CIRM’s expansion of its Industry Alliance Program to incorporate Industry Resource Partners, this partnership will provide CIRM Awardees the option to license ElevateBio’s iPSC lines produced in xeno-free, feeder-free conditions using non-integrating technologies and have the ability to gain access to other enabling technologies, including gene editing, cell and vector engineering, and end-to-end services within ElevateBio’s integrated ecosystem, which are essential for driving the development of regenerative medicines.


About ElevateBio:

ElevateBio is a technology-driven company built to power the development of transformative cell and gene therapies today and for many decades to come. The company has assembled industry-leading talent, built state-of-the-art facilities, and integrated diverse technology platforms, including gene editing, induced pluripotent stem cells (iPSCs), and protein, vector, and cellular engineering, necessary to drive innovation and commercialization of cellular and genetic medicines. In addition, BaseCamp is a purpose-built facility offering process innovation, process sciences, and current Good Manufacturing Practice (cGMP) manufacturing capabilities. Through BaseCamp and its enabling technologies, ElevateBio is focused on growing its collaborations with industry partners while also developing its own portfolio of cellular and genetic medicines. ElevateBio's team of scientists, drug developers, and company builders are redefining what it means to be a technology company in the world of drug development, blurring the line between technology and healthcare.

ElevateBio is located in Waltham, Mass. For more information, visit us at www.elevate.bio, or follow ElevateBio on LinkedIn, Twitter, or Instagram.


Investor contact:

Catherine Hu
chu@elevate.bio


Media contact:

Courtney Heath
ScientPR
Courtney@scientpr.com

   
Record changed: 2022-09-04

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