Strategic Funding to advance Drug Candidate
Jan 14 2021 Read 112 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.
Complement regulators manage inflammatory processes by protecting the body's own cells and preventing excessive inflammation. Current methods block the inflammation pathway but promote further infections and pathogen proliferation.
Andreas Schaaf, CSO of Eleva, said: ZHFN has been a great supporter and long-term strategic partner. Together we are convinced that the unprecedented potential of our platform will deliver tomorrow's therapeutics."
The company also announced Dr. Ralf Smit as Chief Business Officer to its Executive Board. Ralf Smit has over 25 years of experience in business development and commercialisation with pharmaceutical companies (Roche, BioStrat). Previously an advisor to Eleva, he will now head its Clinical and Business Development.
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