Press Release May 14, 2019

ElevateBio Raises $150 Million in Series A Financing to Create and Operate Portfolio of Highly Innovative Cell and Gene Therapy Companies

The Life Sciences team advised ElevateBio on the completion of its $150 million Series A financing, which was 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, a Cambridge-based biotechnology holding company, launched operations to create and build a broad portfolio of cell and gene therapy companies through partnerships with leading academic researchers, medical centers and entrepreneurs. ElevateBio’s fully integrated business model is structured to efficiently build single- and multi-product cell and gene therapy companies by providing scientific founders with centralized bench-to-bedside capabilities including world-class scientists, manufacturing facilities, drug development and commercialization expertise.

ElevateBio established ElevateBio BaseCamp, a single R&D, process development and cGMP manufacturing company that provides centralized expertise for all ElevateBio portfolio companies, and also serves selected strategic partners. BaseCamp is currently located in Cambridge, Mass. and staffed with a world- class team of scientists. With more than 100,000 square feet of space, the new ElevateBio BaseCamp, being built in Waltham, Mass., includes cGMP manufacturing suites, analytics and QC laboratories, and protein engineering, virology and immunology labs, all with state-of-the art levels of laboratory automation.

The Goodwin team was led by partners Danielle Lauzon and Mitchell Bloom, and associates Patricia Mets, Gabriela Morales-Rivera, Kimberly Maruncic and Katherine Hand, with tax assistance from partner Dan Karelitz

For additional details, please read the press release and articles in Xconomy, STAT, BioSpace and Boston Business Journal.