Germany's CEVEC Pharmaceuticals has raised $8.5 million to boost its protein and vaccine commercialization business of the proprietary CAP Technology platform. The technology is used to manufacture of complex biologics and therapeutic antibodies, and also serves as a platform for various vaccine production needs.
NRW.BANK and Creathor Venture Fonds led the round which included current investors, a group of private and institutional investors and ERP Startfonds of KfW bank. CEVEC said another financing round will be closed at the end of this year; that money will be used to develop certain vaccines with partners.
"After the successful launch of CAP and CAP-T in Europe, Asia/Pacific and the U.S. for use in the field of protein and antibody expression, the new excellent scientific data using the system for vaccine production open a truly outstanding new business opportunity for CEVEC," said CCO Wolfgang Kintzel in a statement. "The human CAP technology will soon become the leading cell line for all vaccine and protein production needs."
- here's CEVEC's release