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Genezen Secures $18.5 Million Investment to Enhance Viral Vector Development and Manufacturing Capabilities

Thursday, November 02, 2023

Genezen, a leading Contract Development and Manufacturing Organization (CDMO) specializing in cell and gene therapy, has announced the closure of an $18.5 million follow-on growth equity investment, with Ampersand Capital Partners taking the lead. This investment will accelerate Genezen's expansion in retroviral, lentiviral, and adeno-associated viral (AAV) vector manufacturing and support their pipeline of customer projects in the field of cell and gene therapies.

Genezen, expressed his excitement about this development, emphasizing its significance in Genezen's journey to becoming a premier CDMO for cell and gene therapy innovators. With a decade of experience in advanced therapies, Genezen has recognized the need for a versatile, scientifically rigorous, and technically focused CDMO partner. Ampersand's strong support will enable Genezen to continue delivering top-notch development and manufacturing solutions for cell and gene therapies, ultimately expediting the delivery of life-saving treatments worldwide.

Genezen completed the qualification of its 25,000 sq ft GMP viral vector facility in Fishers, Indiana. Favaloro also noted the growing interest in their lentiviral and adeno-associated viral capabilities in the market. This capital infusion will help Genezen accelerate its growth and expansion plans at its Fishers site, including further investments in technology and the establishment of state-of-the-art laboratories, manufacturing suites, and support areas to complement their current capacity and support more cell and gene therapy innovators.

David Anderson, General Partner at Ampersand Capital Partners, expressed his enthusiasm for continuing to support Genezen in light of the ongoing rapid growth in the cell and gene therapy sector. He commended Genezen's state-of-the-art GMP facility and the team's unique ability to develop capabilities that resonate with the market. Clients are drawn to the team's scientific expertise, and this equity financing will facilitate Genezen's continued development and growth.

 

Source: prnewswire.com

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