# ElevateBio

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elevatebio

- Industry: Biotechnology
- Headquarters: Waltham, US
- Website: www.elevate.bio
- Total disclosed funding: $1.2B
- Latest round: Series D (May 24, 2023)
- Investors on record: 18

## About

Based in Massachusetts, US, and founded in 2017, ElevateBio, LLC operates as a biotechnology company that develops novel cell and gene therapies through gene editing and induced pluripotent stem cells. The company was co-founded by David Hallal who is also the CEO and Chairman of the company. The company is funded by 17 investors. The company has also announced three spin-out companies: AlloVir, HighPassBio and Life Edit Therapeutics with each focussing on a specific therapeutic. The company also announced their joining with LifeEDIT Therapeutics in 2020. The company has also partnered with academic research institutions and biotech companies for bringing their technology to market. In May 2023, ElevateBio, LLC raised USD 401 million in series D funding led by Matrix Capital Management, with participation from Woodline Partners Lp, The Lee Family Office, Novo Nordisk A/S, Invus Financial Advisors, Emerson Collective, SB Investment Advisers, Fidelity Investments, MPM Capital, F2 Ventures, Redmile Group, EcoR1 Capital, Samsara BioCapital, Surveyor Capital, EDBI, Vertex Ventures, ITOCHU Corporation.

The company operates on a B2B business model which focusses on both developing and commercializing its own therapies. Each spin-out of the company is dedicated to the development and manufacturing of a specific type of therapeutic approach like the spin-out AlloVir is working on T cell immunotherapy for addressing COVID-19 and viruses that specifically arise stem cell transplantations and is already in the later stages of clinical trials. Another spin-out company HighPassBio is developing T-cell therapies to combat potential relapse of leukaemia following a transplant.

The company plans to use the May 2023 funding to further develop its biotechnology platform, expand its market and scale its manufacturing process.

## Funding rounds

- Series D, May 24, 2023, $401M — Itochu, SG Growth Capital, MPM BioImpact, Fidelity Investments, Novo Nordisk A/S, F2 Ventures, Redmile Group, Invus Financial Advisors, EcoR1 Capital, Vertex Ventures, SB Investment Advisers, Emerson Collective, Samsara BioCapital, Surveyor Capital, The Lee Family Office, Woodline Partners, Matrix Capital Management Company
- Series C, Mar 15, 2021, $525M — Itochu, SG Growth Capital, MPM BioImpact, Fidelity Investments, F2 Ventures, Redmile Group, Invus Financial Advisors, EcoR1 Capital, Matrix Capital Management, Vertex Ventures, Emerson Collective, SB Investment Advisers, Samsara BioCapital, Surveyor Capital
- Series B, Mar 30, 2020, $170M — SG Growth Capital, MPM BioImpact, F2 Ventures, Redmile Group, Invus Financial Advisors, EcoR1 Capital, Vertex Ventures, Samsara BioCapital, Surveyor Capital
- Series A, May 13, 2019, $150M — MPM BioImpact, F2 Ventures, Redmile Group, EcoR1 Capital, Samsara BioCapital

## Investors

- MPM BioImpact (https://capitalatlas.ai/funds/mpm-bioimpact) — Series A, Series B, Series C, Series D
- F2 Ventures (https://capitalatlas.ai/funds/f2-ventures) — Series A, Series B, Series C, Series D
- Redmile Group (https://capitalatlas.ai/funds/redmile-group) — Series A, Series B, Series C, Series D
- EcoR1 Capital (https://capitalatlas.ai/funds/ecor1-capital) — Series A, Series B, Series C, Series D
- Samsara BioCapital (https://capitalatlas.ai/funds/samsara-biocapital) — Series A, Series B, Series C, Series D
- SG Growth Capital (https://capitalatlas.ai/funds/sg-growth-capital) — Series B, Series C, Series D
- Invus Financial Advisors (https://capitalatlas.ai/funds/invus-financial-advisors) — Series B, Series C, Series D
- Vertex Ventures (https://capitalatlas.ai/funds/vertex-ventures) — Series B, Series C, Series D
- Surveyor Capital — Series B, Series C, Series D
- Itochu — Series C, Series D
- Fidelity Investments (https://capitalatlas.ai/funds/fidelity-investments) — Series C, Series D
- Matrix Capital Management — Series C
- Emerson Collective — Series C, Series D
- SB Investment Advisers (https://capitalatlas.ai/funds/sb-investment-advisers) — Series C, Series D
- Novo Nordisk A/S — Series D
- The Lee Family Office — Series D
- Woodline Partners — Series D
- Matrix Capital Management Company — Series D