CIOREVIEW >> Biotech >>

Eleva Secures Funding from Zukunftsfonds

By CIOReview | Wednesday, January 13, 2021

Eleva secures funding from Zukunftsfonds Heilbronn to help advance one of its drug candidates.

FREMONT, CA: Eleva, a superior biologics manufacturer, secures up to EUR 60 million in funding from Zukunftsfonds Heilbronn (ZFHN). The funds will assist advance one of its drugs, CPV-101, to stages that will facilitate further investment from venture capitalists or pharmaceutical firms. Eleva also trumpeted the addition of Dr. Ralf Smit to its Executive Board. Eleva has been using its unique moss-based platform to create novel drugs. ZFHN, an investor in local start-ups, is now offering up to EUR 60 million to take assist CPV-101, a potentially game-changing complement regulator, to more advanced clinical stages. This will allow additional investment from venture capital firms and/or pharmaceutical firms on the path to approval.

Complement regulators manage inflammatory processes by guarding the body's cells and preventing excessive inflammation. Present methods block the inflammation pathway but encourage further infections and pathogen proliferation. ZFHN has been a major supporter and long-term strategic partner. Together the companies are convinced that the unprecedented potential of its platform will offer tomorrow's therapeutics.

Eleva also trumpeted Dr. Ralf Smit's addition as CBO (Chief Business Officer) to its Executive Board. Ralf Smit has about 25 years of experience in business development and commercialization with pharmaceutical firms. Previously an advisor to Eleva, he will now be responsible for its Clinical and Business Development.

Based in Freiburg, Germany, Eleva develops novel biological treatments with its pharmaceutical partners. The privately-held company uses its unique moss-based production platform to produce supreme biologics like antibodies, replacement enzymes, or fusion toxins. Eleva has successfully developed drug candidates into clinical phases.