ElevateBio Brings Centralized Model To Cell And Gene Therapy

ElevateBio LLC executives have been working for about a year on a cell and gene therapy strategy that they brought out of stealth mode on 13 May with the announcement that they raised $150m in series A venture capital. The funding will mainly go to building research and development and manufacturing capabilities, but also to fund small subsidiaries based on individual R&D programs and platforms.

The firm's hub-and-spoke model – a structure that involves a centralized entity spinning out multiple product- or platform-specific start-ups – isn't new. For instance, Roivant Sciences GmbH has founded multiple therapeutic area-specific firms with centralized administrative functions, and BridgeBio Pharma launched in 2017 to create start-ups focused on treatments for rare genetic diseases