EurekaBio Completes $40 Million Series B+ Financing to Advance EuLV™ Lentiviral Vector Production System

— Funds to accelerate the commercialization of Lentiviral Vectors and Adeno-Associated Viral Vectors

SHENZHEN, China, March 7, 2024 /PRNewswire/ -- Shenzhen Eureka Biotechnology Co., Limited (EurekaBio), a leading upstream supplier in the cell and gene therapy field, announced the completion of its Series B+ financing, exceeding $40 million. The financing was led by YUEXIU INDUSTRIAL FUND, with participation from numerous well-known Chinese funds, as well as follow-on investments from U.S. funds.

The funds will support the commercial implementation of large-scale production technology for Lentiviral Vectors (LVV), advance research and development around large-scale production technology for Adeno-Associated Viral Vectors (AAV), promote comprehensive solutions for cell therapy manufacturing, accelerate global market expansion efforts, and bolster the overall growth of the company.

"Innovation in viral vector production technology is a crucial factor driving the cost reduction and efficiency improvement of commercializing cell and gene therapy drugs," said Marl Ma, CEO of EurekaBio. "With numerous pharmaceutical companies and Contract Development and Manufacturing Organizations (CDMOs) actively seeking solutions for large-scale viral vector production, the future trajectory points towards stable cell lines as the key direction. In addition to successfully commercializing the EuLV™ Lentiviral Vector Production System, we will also develop stable cell lines for the production of other types of viral vectors, such as AAV – a strategic initiative that provides a broad range of much-needed products, technologies, and services."

EurekaBio's core innovation lies in the EuLV™ Lentiviral Vector Production System, a cutting-edge technology that transforms the large-scale production of lentiviral vectors using stable cell lines and a serum-free suspension system. The company proudly stands as the world's pioneer in successfully bringing this groundbreaking technology to commercialization.

In contrast to traditional transient transfection production methods, the EuLV™ Lentiviral Vector Production System eliminates the necessity for plasmids, resulting in cost savings related to plasmid production and streamlining the overall production process. This innovative system significantly improves the consistency of lentiviral vectors, offering better control over batch-to-batch variations. Moreover, the EuLV™ system adopts a high-density suspension culture, which substantially increases unit titer levels, reduces production batches and associated costs and meets the requirements of large-scale lentiviral vector production. The EuLV™ system presents a next-generation solution for lentiviral vector production to power cell and gene therapies, and is also well positioned for global adoption.

"As a prominent player focused upstream of cell and gene therapies, EurekaBio has demonstrated substantial progress in pioneering developments for cell and gene therapies through its independently crafted technologies and product," said Rong Lu,President of YUEXIU INDUSTRIAL FUND. "The company's unique business framework and extensive practical expertise of inspire confidence in the myriad potentialities for the company's future growth. We look forward to collaborating with this visionary team to jointly propel the rapid advancement of innovative cell and gene therapy-based drugs."

Additionally, EurekaBio has developed an automated solution tailored for the complete spectrum of cell therapy manufacturing processes involving cell isolation, magnetic bead cultivation, viral transduction, cell expansion, concentration, washing formulation and packaging. Through this comprehensive approach, EurekaBio can produce cell therapies in a high-quality, cost-effective manner.

EurekaBio

Through the synergies of cross-disciplinary collaboration and technological innovation, EurekaBio has consistently pushed the boundaries of therapy. EurekaBio has brought forth advanced cellular drug production solutions and the EuLV™ lentiviral vector platform. These breakthroughs, including high-titer stable lentiviral vector packaging and producer cell lines, are poised to play a pivotal role in the global commercialization of CGT drugs. Our ultimate aim is to bring tangible benefits to patients worldwide by ushering in a new era of advanced and accessible therapies.

SOURCE EurekaBio