Eleva secures up to EUR 60 million to advance a drug candidate

Eleva, a manufacturer of superior biologics, has secured up to EUR 60 million in funding from Zukunftsfonds Heilbronn (ZFHN).

The funds will help advance one of its drug candidates, CPV-101, to stages that will facilitate further investment from venture capitalists and/or pharmaceutical companies.

Based in Freiburg, Germany, Eleva develops novel biological therapies with its pharmaceutical partners.

The privately-held company leverages its unique moss-based production platform to produce supreme biologics like antibodies, replacement enzymes, or fusion toxins.

Eleva has successfully developed drug candidates into clinical phases.