iVexSol, a Lexington, MA-based technology-based lentiviral vector (LVV) contract development and manufacturing organization (CDMO), raised $23.8m in Series A-3 funding.
New investors Bristol Myers Squibb (NYSE: BMY), Charles River Laboratories (NYSE: CRL) and Asahi Kasei Medical, a division of Asahi Kasei (NYSE: AHKSY), joined existing investors Casdin Capital and BioLife Solutions (Nasdaq: BLFS) to close Series A financing at a total of more than $39m.
The company intends to use the funds to invest in its Intelligent Vector Solutions by advancing process and analytical technologies, expanding technical teams in Quality, Regulatory and cGMP operations, and augmenting existing infrastructure to support the production of stable LVV producer cell lines.
Led by Dr. Rodney Rietze, co-founder and CEO, iVexSol provides Intelligent Vector Solutions for the production of LVVs – gene delivery vehicles that are a critical raw material in the manufacturing of life-changing cell and gene therapies (CGTs). The technology platform uses banks of vector-producing cells to produce LVV at greater quantities than current approaches and facilitate the rapid scale-out needed for global demand, all within a smaller manufacturing footprint. These advances enable shorter clinical development timelines, reduced costs, and ultimately, increased global access for patients waiting to receive these transformative medicines.
The company is currently focused on generating stable LVV cell lines using each client’s gene of interest, to enable a readily available supply of “on-demand” vector to meet the client’s growing vector needs.
FinSMEs
29/01/2023