Paris, France-based creator of modular, microfluidic cell foundries that transform cell and gene therapy (CGT) manufacturing, Astraveus, raised EUR 16.5 million in series seed funding. The round took place on June 27, 2023. AdBio partners, co-syndicated with M Ventures, Johnson & Johnson Innovation – JJDC Inc., and Bpifrance Large Venture, led the financing for the funding.
As a part of the deal, Alain Huriez of Adbio partners, Christian Uhrich of M Ventures, Fiona MacLaughlin of JJDC Inc., and Laurent Higueret of Bpifrance Large Venture intend to join the board of Astraveus.
Purpose of financing for Astraveus
Astraveus aims to considerably widen patient access to these life-changing therapies. With the latest capital injection, the company intends to further advance the development of its technology.
It also has plans to ramp up the hiring operations and expand the team.
What the company’s official has to add
Jérémie Laurent, Founder and CEO of Astraveus, said, “Astraveus has an ambitious vision to revolutionize the development and commercialization of cell and gene therapies. By reducing costs, increasing precision and driving scalability, we are enabling the realization of the full potential of these therapies and making them accessible to a far wider audience of patients.”
What the investors have to comment
Alain Huriez, MD, Chairman and Managing Partner of AdBio Partners, further said, “Astraveus’ disruptive technology, combined with the team’s vision and the ability to address significant unmet needs in CGT enabling technologies, immediately convinced us of the company’s potential. We were highly motivated to lead this financing, which was syndicated with first-class co-investors. All ingredients are in place for Astraveus to further become a leader in this highly important field.”
In addition, Christian Uhrich, Principal at M Ventures, added, “Astraveus’ technology and approach are truly unique and a step change in a therapeutic area in need of solutions to deliver access to life-changing therapies. Supported by a strong local innovation ecosystem, we have been particularly impressed by the company’s early achievements and are confident in their ability to develop the technology to its full potential.”
In addition, Laurent Higueret, Senior Investment Director at Bpifrance Large Venture, commented, “We are thrilled to join such a great syndicate of expert and long-term investors and contribute to accelerating this great story in the making. The company’s cutting-edge, next-generation CGT platform holds the promise of dramatically reducing vein-to-vein times for patients in need of cell therapy products, thus positioning the company as a key player in its field. Astraveus perfectly fits our mission to turn the most disruptive technologies into great entrepreneurial successes.”
About Astraveus
In 2016, Jérémie Laurent launched the company. Astraveus is developing the next generation of cell as well as gene therapy (CGT) manufacturing solutions. Astraveus’s cell foundries miniaturize and automate cell and gene therapy manufacturing in a unique, modular, end-to-end, microfluidic solution that mimics the elegance of natural systems.
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