• ElevateBio

  Participated · Series D · May 2023

  ElevateBio combines multiple R&D technology platforms — including Life Edit (a next‑generation gene‑editing platform), a proprietary iPSC platform, and RNA, cell, protein and vector engineering — with BaseCamp, its end‑to‑end genetic‑medicine cGMP manufacturing and process development business. The company offers turnkey scale and capabilities to accelerate discovery, development, and commercialization of cell and gene therapies and is also building an internal pipeline of cellular, genetic, and regenerative medicines. ElevateBio has formed partnerships to expand access to its platforms, including collaborations with Moderna and Novo Nordisk and a partnership with the California Institute for Regenerative Medicine, plus a new company to develop iPSC‑derived allogeneic immune cell therapies. Operational plans include expanding geographic reach and increasing cGMP manufacturing capacity to provide partners scalable access across the full product lifecycle. Financially, ElevateBio announced a $401 million Series D financing to further advance its technology platforms and BaseCamp manufacturing capabilities. The company states the proceeds will be used to accelerate platform development, manufacturing scale‑up, and strategic partnerships across the cell and gene therapy ecosystem. ElevateBio bridges academic research and commercialization to advance cell and gene therapies, focusing on developing its own therapeutics and partnering with research institutions and biotech companies. The company incubates frequent spin-outs, including AlloVir (with Baylor College of Medicine), HighPassBio (with Fred Hutchinson) and Life Edit Therapeutics (with AgBiome), with additional undisclosed spin-outs in development. ElevateBio also supports partners through production-scale manufacturing capabilities. Financially, the company more than doubled its prior round with a $525 million Series C after a $193 million Series B closed the prior year. The new capital will be used to expand R&D and manufacturing capacity and to continue creating spin-outs and partnerships. ElevateBio is based in Cambridge, Massachusetts. ElevateBio builds and operates a portfolio of companies focused on developing and manufacturing cell- and gene-based therapeutics. It specializes in new types of cellular and genetic therapies and spins out dedicated companies—each focused on a specific therapeutic approach. Subsidiaries include AlloVir, advancing T-cell immunotherapies against viruses that arise after stem cell transplantation and already in later-stage clinical trials, and HighPassBio, which targets relapse of leukemia after transplant with T-cell therapies. ElevateBio is expanding COVID-19–related research through an AlloVir agreement with Baylor College of Medicine to develop T-cell therapies to protect immunocompromised patients. The company is ramping up a roughly 140,000 square-foot Massachusetts facility focused on R&D that is nearing completion. Financially, ElevateBio closed a $170M Series B, bringing total capital raised to over $300M following a $150M Series A announced last year. ElevateBio is a Cambridge-based biotechnology holding company established to create and build a broad portfolio of cell and gene therapy companies through partnerships with academic researchers, medical centers, and entrepreneurs. The firm provides scientific founders centralized bench-to-bedside capabilities, including world-class scientists, drug development and commercialization expertise, and manufacturing facilities. ElevateBio BaseCamp is a single R&D, process development and cGMP manufacturing company that serves ElevateBio portfolio companies and selected strategic partners. BaseCamp is staffed with scientists and is building more than 100,000 square feet of facilities in Waltham, Massachusetts, including cGMP manufacturing suites, analytics and QC laboratories, and protein engineering, virology and immunology labs. The company closed a $150 million Series A financing co-led by the UBS Oncology Impact Fund (managed by MPM Capital) and F2 Ventures, joined by EcoR1 Capital, Redmile Group, and Samsara BioCapital. ElevateBio’s leadership team includes experienced biotech executives, MPM Capital incubated the company, and founding investors from its backers are actively involved in governance.

No current team members are available.