iVexSol® Closes $23.8M Series A-3 Financing; Funds to Revolutionize the Production of Lentiviral Vectors
January 26 2023 - 8:00AM
iVexSol Inc., a technology-based lentiviral vector (LVV) contract
development and manufacturing organization (CDMO), announced $23.8
million 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), join existing
investors which include Casdin Capital and BioLife Solutions
(Nasdaq: BLFS) to close Series A financing at a total of more than
$39 million.
The new funding will be used to invest in
iVexSol’s 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.
“Current vector production methods continue to
struggle to meet clinical and commercial demand,” remarked Dr.
Rodney Rietze, iVexSol co-founder and CEO. “Our cost-effective and
highly scalable Intelligent Vector Solutions are designed to break
the vector supply bottleneck and provide greater access to patients
seeking life-saving treatments. Receiving support from industry
leaders Bristol Myers Squib and Charles River Laboratories, along
with new entrants like Asahi Kasei Medical is transformative,
enabling us to advance our production capabilities and provide a
more comprehensive offering to our clients.”
iVexSol’s Intelligent Vector Solutions
revolutionize 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 reliably produce LVV at significantly
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 robust and readily available supply of “on-demand” vector
to meet the client’s growing vector needs.
About iVexSoliVexSol, Inc. is a viral vector
manufacturing company founded on a proprietary, next-generation,
stable lentiviral vector production process that transforms the way
these essential gene-delivery vehicles are made. Its technology
will greatly reduce the complexity, cost, and development time of
these critical reagents, thereby accelerating the development and
enabling greater access to life-changing cell and gene therapies.
For more information visit www.ivexsol.com.
Media Contact:
Tim Walsh
for iVexSol
617.512.1641
timw@walshgroupmarketing.com
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