ElevateBio Receives $401 Million Investment

Biotech startup ElevateBio has raised $401 million in a Series D investment round. This investment round was led by AyurMaya Capital Management Fund. The following companies participated in the investment round of the Cambridge-based startup: EDBI, Woodline, Emerson Collective, Redmile Group, Vertex Ventures, The Invus Group, Fidelity Management & Research Company, Samsara BioCapital, Lee Family Office, SoftBank Vision Fund 2, EcoR1 Capital, MPM Capital, Novo Nordisk, F2 Ventures, Surveyor Capital and iTochu. ElevateBio reached a total investment of 1.2 billion dollars with 401 million dollars of investment.

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ElevateBio Works on Genetic Therapies

Khalil Barrage, Managing Director of The Invus Group, has been appointed to the biotech startup's board of directors following a recent investment. The Cambridge-based startup was founded in 2017 by Michael Paglia and Andrew Sandford. The Cambridge-based startup works on genetic and new cellular therapies. Gene therapy can cure diseases. Genetic materials are transferred to cells to improve the clinical condition of patients.

ElevateBio developed HighPassbio in November 2019. Helping to develop T-cell related therapies. The biotech startup plays an active role in the treatment of stem cell-related diseases by utilizing T cell therapies. The Cambridge startup also collaborated with Life Edit Therapeutics Gene Editing. ElevateBio stood out among biotech startups with the Covid-19 pandemic. The startup's AlloVir will strengthen the immune system of patients against Covid-19 with its research based on T-cell improvement.