Cellevate successfully closed a second seed round led by Industrifonden, raising 3.2 million EUR to support the commercialization of its innovative nanofiber-based biomanufacturing products.

Information on the Target

Cellevate is an innovative biotechnology firm dedicated to developing advanced cell culture systems aimed at transforming the biomanufacturing landscape. The company's flagship product, Cellevat3d™ nanofiber microcarriers, is engineered to enhance the efficiency of bioproduction for cell and gene therapies, as well as novel vaccines. With anticipated commercial readiness by the third quarter of 2024, Cellevate is set to aggressively market this groundbreaking product starting in November 2024.

To date, Cellevate has secured a total of 6.6 million EUR in equity funding, combining investments from both its recent second seed round, which raised 3.2 million EUR, and its previous seed round that generated 3.4 million EUR in October 2023. In addition to equity funding, Cellevate has been awarded 2.6 million EUR in grants, including substantial support from the European Innovation Council Accelerator program, highlighting the disruptive potential of its nanofiber-based technology in the biopharmaceutical sector.

Industry Overview in the Target’s Specific Country

The biopharmaceutical industry in Europe is experiencing significant growth, driven by rising demand for innovative therapies, including cell and gene therapies and vaccines. European biopharmaceutical firms are well-positioned due to a ro