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iVexSol Announces $2M in Seed Funding
BOSTON, MA, UNITED STATES - Sep 24, 2019 -
iVexSol, a newly formed viral vector manufacturing company, today announced $2.0 million in new convertible debt funding led by Casdin Capital, LLC and BioLife Solutions (NASDAQ:BLFS). The company is founded on a next generation manufacturing technology that revolutionizes the production of lentiviral vectors (LVVs); gene delivery vehicles that are a critical component in the manufacturing of life-changing cell and gene therapies (CGTs). These treatments have been successfully employed to treat late stage cancers and a variety of rare and inherited genetic disorders in both children and adults.
Recent breakthroughs in advanced research for CGTs have created unprecedented demand for viral vectors, the molecular tools used to package and deliver genetic material into patients.
LVVs have proven highly effective and safe for this purpose, but current production methods have significant limitations, creating a critical and growing shortage for CGT researchers and manufacturers around the world.
iVexSol has developed a clinically-proven, transformative LVV manufacturing process which addresses these shortages, producing nearly 10 times the quantity of potent, high quality vectors at a fraction of the cost and duration of legacy processes. This proprietary methodology promises to lower costs and provide a robust supply of vector for CGT researchers and manufacturers, which in turn will shorten clinical development timelines and increase access for patients waiting to receive these life-changing treatments.
Gene delivery vehicles such as viral vectors are an essential raw material for cell and gene therapies, said iVexSol CEO, Dr. Rodney Rietze. As the number of new investigational drugs increase, so does demand for vector. Current production methods are well-suited for small research labs, but entirely insufficient where larger, more tightly regulated stocks of vector are needed. Its a huge impediment to the development of critical new therapies. iVexSols technology is revolutionizing the entire manufacturing process for vector, and removing a significant obstacle for treating many patients in need.
About Casdin Capital, LLC
Casdin Capital consists of long-term investors, financing the next generation of life science innovation, which dramatically improves quality of life while generating substantial investment returns for our partners along the way. For more information, visit https://www.casdincapital.com/.
About BioLife Solutions
BioLife Solutions is a leading supplier of cell and gene therapy bioproduction tools. Our proprietary CryoStor® freeze media and HypoThermosol® shipping and storage media are highly valued in the regenerative medicine, biobanking and drug discovery markets. These biopreservation media products are serum-free and protein-free, fully defined, and are formulated to reduce preservation-induced cell damage and death. Our recently acquired ThawStar® family of automated cell thawing products and evo®cold chain management system reduce therapeutic and economic risk for cell and gene therapy developers by reducing the potential of administering a non-viable dose. For more information please visit www.biolifesolutions.com, and follow BioLife on Twitter.
About iVexSol
iVexSol is a newly formed viral vector manufacturing company founded on a proprietary, next-generation, stable lentiviral vector production process that transforms the way these essential gene-delivery vehicles are made. Its technology will greatly reduce the complexity, cost and development time of these critical reagents, thereby accelerating the development and enabling greater access to life-changing cell and gene therapies. For more information visit www.ivexsol.com.
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