While economic conditions and the ongoing global coronavirus pandemic may not make for the best atmosphere for raising funding, some companies are still announcing round closures with significant money committed. Cambridge-based ElevateBio, for instance, revealed a $170 million Series B funding on Monday, with participation from new investors The Invus Group, Surveyor Capital, EDBI, and Vertex Ventures, along with existing investors F2 Ventures, MPM Capital, EcoR1 Capital, Redmile Group and Samsara BioCapital. ElevateBio, which was officially launched to the public less than a year ago, specializes in development of new types of cellular and genetic therapies, and operates by the creation of new companies under its portfolio each dedicated to the development and manufacturing of a specific type of therapeutic approach.
from Yahoo Tech https://ift.tt/2Jo6iGP
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