French start-up to advance development of automated microfluidic cell and gene therapy manufacturing platform
Astraveus raises €16.5 Million Series Seed round
Astraveus SAS, the creator of modular, microfluidic cell foundries that transform cell and gene therapy (CGT) manufacturing, exited stealth with the completion of an oversubscribed €16.5 million Series seed financing led by AdBio partners, co-syndicated with M Ventures, Johnson & Johnson Innovation – JJDC Inc., and Bpifrance Large Venture.
Astraveus is revolutionizing the field of CGT manufacturing with its Lakhesys™ platform, an end-to-end cell foundry that uses deep process optimization and single-use, microfluidic bioprocessors to deliver better results with reduced inputs. By removing the need for large-scale infrastructure, reducing costs and processing time, and overcoming the logistical challenges associated with CGT manufacturing, Astraveus is seeking to considerably widen patient access to these life-changing therapies. The recently completed financing will allow the company to significantly advance the development of its technology and expand the team.
At the innovative core of Lakhesys are microfluidic bioprocessors, which mimic organ perfusion and significantly accelerate the molecular exchanges needed to sustain and transform cells into potent therapeutic agents. The high degree of precision and miniaturization enabled by microfluidic bioprocessors allow more efficient manufacturing, reducing labour, floor space and energy requirements, thereby generating less waste and making the process far cheaper and greener.
While CGT is a young market, it has received considerable investment - an average of >$18 billion per year since 2020 - but the high per patient cost of up to $2m has been a brake on both development of new therapies and deployment of those already identified. By minimizing the changes between process development and the clinic, and offering an immediate modular scalability, Lakhesys saves critical time and cost, and has the potential to transform both clinical research and manufacturing of approved products, accelerating the adoption of CGTs.
Following the fundraising, Alain Huriez of Adbio partners, Christian Uhrich of M Ventures, Fiona MacLaughlin of JJDC Inc., and Laurent Higueret of Bpifrance Large Venture will be joining the board of Astraveus.
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."
Alain Huriez MD, Chairman and Managing Partner of AdBio Partners, 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 become a leader in this highly important field."
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."
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 most disruptive technologies into great entrepreneurial successes."
Astraveus has received funding from the European Union's Horizon 2020 research and innovation programme, under grant agreement N° 850358, and from the French Minister of Education and Innovation and Bpifrance as part of i-Lab prize and the "Investissements d'avenir" program.
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