ElevateBio Launches to Create and Operate a Portfolio of Highly Innovative Cell and Gene Therapy Companies

ElevateBio announced 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’s BaseCamp is 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. The company has closed $150 million in 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 is uniquely structured and positioned to leverage our cell and gene therapy company-building capabilities to accelerate development, manufacturing, and delivery of highly innovative therapies across a growing number of portfolio companies,” said David Hallal, ElevateBio co-founder, CEO and Chairman. “A foundational element of our scientific, clinical and financial strategy is ElevateBio BaseCamp, which is our single R&D, process development and manufacturing company that supports our portfolio companies and a select group of strategic partners that will benefit from our expertise and facilities. We look forward to announcing our initial portfolio companies and strategic partners in the coming weeks.”

ElevateBio’s founders and broader leadership team have built and led several of the world’s most successful biotechnology companies over the past several decades. The company is led by co-founders David Hallal, CEO and Chairman; Mitchell Finer, Ph.D., Chief Scientific Officer; and Vikas Sinha, Chief Financial Officer. MPM Capital incubated ElevateBio and Elevate’s founding investors Ansbert Gadicke, M.D., co-founder of MPM Capital, and Morana Jovan-Embiricos, Ph.D., Managing Partner of F2 Ventures, are on the ElevateBio Board of Directors. Oleg Nodelman, Founder and Managing Director, EcoR1, serves as a Board Observer.

“At MPM, we are thrilled to have incubated ElevateBio, a company that is creating a novel environment to accelerate the development of cell and gene therapies for patients and deliver significant value to investors,” said Dr. Gadicke. “The track records of the ElevateBio leadership team in building iconic companies and creating value are unmatched, and we look forward to working with them as they execute on a new model in the field of cell and gene therapies.”