El­e­vate­Bio snags the year's largest raise with $401M Se­ries D, plus a re­search part­ner­ship with No­vo

Just one day af­ter an RNA start­up an­nounced a $300 mil­lion round, El­e­vate­Bio has tak­en away the record for the in­dus­try’s biggest raise of the year, an­nounc­ing a $401 mil­lion Se­ries D round.

Wednes­day’s fi­nanc­ing means the Waltham, MA-based com­pa­ny has now raised about $1.25 bil­lion over its 5.5-year ex­is­tence, build­ing what CEO David Hal­lal called a new type of cell and gene ther­a­py com­pa­ny. It has al­most 500 em­ploy­ees and sells a range of ser­vices to cell and gene ther­a­py part­ners, in­clud­ing process de­vel­op­ment and man­u­fac­tur­ing ca­pa­bil­i­ties and even pure-play R&D ser­vices.

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