Strategic Funding to advance Drug Candidate

Strategic Funding to advance Drug Candidate
Jan 14 2021 Read 170 Times
Biologics manufacturer eleva GmbH has secured up to EUR 60 million in funding from Zukunftsfonds Heilbronn (ZFHN). The funds will help advance one of its drug candidates, CPV-101, to stages that will facilitate further investment from venture capitalists and/or pharmaceutical companies. The company also announced the addition of Dr. Ralf Smit to its Executive Board.
The Freiburg-based company developed its moss-based platform to produce biologics like antibodies, replacement enzymes, or fusion toxins. The funding from ZFHN, an investor in local start-ups, will is now providing help take CPV-101, a potentially game-changing complement regulator, to more advanced clinical stages and further investments This will enable additional investment on the path to approval.

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