ElevateBio raises $170M, plans additions to portfolio with six clinical programs by 2021

With $170 million in fresh cash, cell and gene therapy manufacturing and R&D company ElevateBio believes it can shepherd its portfolio companies to bring six clinical programs into clinical testing by next year -- and could help move forward one company’s project to develop a COVID-19 treatment.

ElevateBio LLC provides R&D, process development and cGMP manufacturing capabilities to portfolio companies in a centralized setting via its BaseCamp LLC subsidiary. ElevateBio has disclosed relationships with two -- antiviral play AlloVir and blood cancer company HighPassBio -- but has yet to divulge details about other portfolio companies with AAV-based gene therapies and TCR and CAR T programs...