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SpanishCellares Raises $255M Series C to Launch First Integrated Development and Manufacturing Organization
August 24, 2023
Cellares, the first Integrated Development and Manufacturing Organization (IDMO) dedicated to clinical and industrial-scale cell therapy manufacturing, has secured $255 million in Series C funding led by new investor Koch Disruptive Technologies. In connection with the financing, David Mauney, Managing Director at Koch Disruptive Technologies, will join the company’s board of directors. Global biopharmaceutical company and cell therapy leader Bristol Myers Squibb also participated in the round, alongside DFJ Growth, Willett Advisors and existing investors Eclipse, Decheng Capital, and 8VC.
“Cell therapies have tremendous curative potential across a wide range of diseases. But right now, manufacturing by conventional CDMOs is expensive, failure-prone, and impossible to scale,” said David Mauney, managing director of Koch Disruptive Technologies. “Cellares is driving transformation in the marketplace by combining an Industry 4.0 approach with full vertical integration. As the first IDMO, Cellares is empowering cell therapy companies to build viable businesses, remain competitive, and meet the needs of fast-growing patient populations.”
Cellares will use the new funding to launch the world’s first commercial-scale IDMO Smart Factory, which seamlessly integrates advanced robotics, purpose-built technology, and interconnected software. The 118,000 sq. ft. IDMO Smart Factory, located in Bridgewater, New Jersey, will be capable of producing 40,000 cell therapy batches per year. By leveraging integrated technologies, IDMO Smart Factories can produce 10 times more cell therapy batches per year than traditional CDMO facilities, even with the same footprint and the same workforce. Cellares’ Smart Factories will be deployed around the world to enable the cell therapy industry to meet global patient demand.