ViroCell Biologics Completes Oversubscribed Financing
14 Agosto 2024 - 6:00AM
Business Wire
Proceeds will be used to accelerate ViroCell’s
growth, as it continues to gain commercial traction for its viral
vector design and manufacturing services
ViroCell Biologics (“ViroCell” or the “Company”), a cell and
gene therapy (“CGT”) contract development and manufacturing
organization (“CDMO”) specializing in GMP viral vector
manufacturing for clinical trials, announces the completion of an
oversubscribed convertible note offering. The oversubscription was
led by new investor First Light Asset Management LLC, joining
existing investors including Sartorius Stedim Biotech S.A. and
Dorset Opportunity Fund LP.
Proceeds will be used by ViroCell to accelerate its growth, as
it continues to gain strong commercial traction with its specialist
services in viral vector design and manufacturing. ViroCell offers
a full range of pre-clinical and clinical viral vector services
that support academic and corporate innovators to accelerate the
clinical development of novel CGTs. Since an approval from the UK’s
Medicines and Healthcare products Regulatory Agency (“MHRA”) to
manufacture and export viral vectors, ViroCell has seen significant
demand for its services and is building a strong reputation for
delivering high yield GMP vectors in a timely manner. As recently
announced, this has already led to the signing of a five-year
Master Services Agreement (“MSA”) with a prominent U.S.
NCI-designated cancer center.
This convertible note offering was oversubscribed and the terms
are confidential.
John W. Hadden II, CEO at ViroCell, commented:
“We want to thank all our investors for their support and extend
a warm welcome to First Light Asset Management, who led the
oversubscribed financing based on their strong conviction in our
unique market position, strategy and ability to deliver. We have
been making significant strides commercially and are very pleased
to see increasing demand for our differentiated viral vector
service offering. The proceeds of this financing will allow us to
better service cutting-edge cell and gene therapy research groups
around the world.”
Matt Arens, CEO, Senior Portfolio Manager and Founder at
First Light Asset Management LLC, added:
“We have been impressed with the team at ViroCell and look
forward to supporting them on their ambitious growth journey. This
investment will support ViroCell as it further executes on a strong
pipeline of deal flow.”
Notes to editor:
ViroCell
ViroCell Biologics is an innovation-driven Contract Development
and Manufacturing Organization (“CDMO”) focused exclusively on the
design, derisking, and GMP manufacture of viral vectors for
clinical trials. Built around one of the most prolific academic
viral vector manufacturing teams, ViroCell was created to address
the global demand for precisely engineered viral vectors and aims
to become the partner of choice for companies developing cell and
gene therapies. The team leverages its deep track record to help
clients to de-risk and accelerate novel cell and gene therapies
into and through clinical development, with a mission of being the
partner of choice for corporate and academic innovators in this
field. Focused initially on manufacturing lentivirus and
gamma-retrovirus vectors, ViroCell enables clients to start
clinical trials on a scalable platform, delivering value by
reducing costs, time and regulatory risk.
www.virocell.com
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For more ViroCell information, please contact:
ViroCell John W. Hadden II, CEO info@virocell.com
For ViroCell media enquiries, please contact:
FTI Consulting Simon Conway / Victoria Foster Mitchell /
Tim Stamper ViroCell@fticonsulting.com +44 (0)20 3727 1000