ElevateBio, a cell and gene therapy technology company focused on powering transformative cell and gene therapies, has announced it has raised US$525 million in a Series C financing with participation from SoftBank Vision Fund 2. ElevateBio has created a business model addressing the most pressing challenges in the field of cell and gene therapy. With this financing, ElevateBio will continue to develop and expand its technology platforms, build upon its network of process development and GMP manufacturing capacity, and advance an increasing number of industry partnerships, while also continuing to develop its own highly innovative cell and gene therapies.
Latham & Watkins LLP represented SoftBank Vision Fund 2 in the transaction with an emerging companies team led by Bay Area partners Ben Potter and Saad Khanani, with Bay Area associate Adam Zuckerman. Advice was also provided on intellectual property matters by Bay Area associate Jekkie Kim.