ViroCell Biologics, a specialized CDMO in GMP viral vector manufacturing, has successfully closed an oversubscribed convertible note offering to fuel its ongoing growth. The funding was led by new investor First Light Asset Management LLC, alongside existing investors Sartorius Stedim Biotech S.A. and Dorset Opportunity Fund LP.
Proceeds from the financing will be allocated to accelerate ViroCell’s growth trajectory, capitalizing on the increasing demand for its expertise in viral vector design and manufacturing. The CDMO offers comprehensive pre-clinical and clinical viral vector services, supporting innovators in advancing the development of novel cell and gene therapies (CGTs).
Since obtaining regulatory approval from the UK’s MHRA, ViroCell has experienced a surge in service demand. Its reputation for delivering high-quality GMP vectors has attracted significant interest from the industry, leading to a five-year Master Services Agreement with a prominent US cancer center.
John W. Hadden II, CEO of ViroCell, thanked investors for their support, particularly First Light Asset Management LLC for its confidence in the company’s market position and growth potential.
Matt Arens, CEO and Founder of First Light Asset Management LLC, highlighted the team’s track record and commitment to supporting ViroCell’s ambitious growth journey. The investment will enable the CDMO to enhance its services for cutting-edge CGT research organizations worldwide.
ViroCell Biologics is a CDMO specializing exclusively in viral vector manufacturing for clinical trials. The company aims to be the partner of choice for entities developing CGT therapies, leveraging its expertise to de-risk and expedite the clinical development process.
Source link: http://www.businesswire.com/news/home/20240814147754/en/ViroCell-Biologics-Completes-Oversubscribed-Financing
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.
