Cellares Secures $255M in Series C Round of Funding

August 24, 2023

Cellares, a cell therapy manufacturer based in South San Francisco, announced a $255 million series C investment round to finish constructing its commercial-scale cell therapy manufacturing facility in Bridgewater, NJ. Koch Disruptive Technologies led the funding round and included pharmaceutical firm Bristol Myers Squibb. The funding follows an $82 million series B round in 2021, bringing the total company backing to $355 million. Cellares identifies itself as the world’s first integrated development and manufacturing organization (IDMO), and the company plans to produce 40,000 cell therapy batches annually at its NJ site, ten times the capacity of traditional facilities, through compact automation known as Cell Shuttle.

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[Source: Fierce Pharma, August 24th, 2023]

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