Proceeds will be used to accelerate ViroCell's growth, as it continues to gain commercial traction for its viral vector design and manufacturing services
ViroCell Biologics ("ViroCell" or the "Company"), a cell and gene therapy ("CGT") contract development and manufacturing organization ("CDMO") specializing in GMP viral vector manufacturing for clinical trials, announces the completion of an oversubscribed convertible note offering. The oversubscription was led by new investor First Light Asset Management LLC, joining existing investors including Sartorius Stedim Biotech S.A. and Dorset Opportunity Fund LP.
Proceeds will be used by ViroCell to accelerate its growth, as it continues to gain strong commercial traction with its specialist services in viral vector design and manufacturing. ViroCell offers a full range of pre-clinical and clinical viral vector services that support academic and corporate innovators to accelerate the clinical development of novel CGTs. Since an approval from the UK's Medicines and Healthcare products Regulatory Agency ("MHRA") to manufacture and export viral vectors, ViroCell has seen significant demand for its services and is building a strong reputation for delivering high yield GMP vectors in a timely manner. As recently announced, this has already led to the signing of a five-year Master Services Agreement ("MSA") with a prominent U.S. NCI-designated cancer center.
This convertible note offering was oversubscribed and the terms are confidential.
John W. Hadden II, CEO at ViroCell, commented:
"We want to thank all our investors for their support and extend a warm welcome to First Light Asset Management, who led the oversubscribed financing based on their strong conviction in our unique market position, strategy and ability to deliver. We have been making significant strides commercially and are very pleased to see increasing demand for our differentiated viral vector service offering. The proceeds of this financing will allow us to better service cutting-edge cell and gene therapy research groups around the world.
Matt Arens, CEO, Senior Portfolio Manager and Founder at First Light Asset Management LLC, added:
"We have been impressed with the team at ViroCell and look forward to supporting them on their ambitious growth journey. This investment will support ViroCell as it further executes on a strong pipeline of deal flow."
Notes to editor:
ViroCell
ViroCell Biologics is an innovation-driven Contract Development and Manufacturing Organization ("CDMO") focused exclusively on the design, derisking, and GMP manufacture of viral vectors for clinical trials. Built around one of the most prolific academic viral vector manufacturing teams, ViroCell was created to address the global demand for precisely engineered viral vectors and aims to become the partner of choice for companies developing cell and gene therapies. The team leverages its deep track record to help clients to de-risk and accelerate novel cell and gene therapies into and through clinical development, with a mission of being the partner of choice for corporate and academic innovators in this field. Focused initially on manufacturing lentivirus and gamma-retrovirus vectors, ViroCell enables clients to start clinical trials on a scalable platform, delivering value by reducing costs, time and regulatory risk.
www.virocell.com
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Contacts:
For more ViroCell information, please contact:
ViroCell
John W. Hadden II, CEO
info@virocell.com
For ViroCell media enquiries, please contact:
FTI Consulting
Simon Conway Victoria Foster Mitchell Tim Stamper
ViroCell@fticonsulting.com
+44 (0)20 3727 1000
