Country for PR: United Kingdom
Contributor: PR Newswire Europe
Wednesday, January 06 2021 - 20:00
Eleva Secures up to EUR 60 million to Advance a Drug Candidate, Appoints New Board Member
FREIBURG, Germany, January 6, 2021, /PRNewswire-AsiaNet/--

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. Eleva also 
announced the addition of Dr. Ralf Smit to its Executive Board.

Eleva has been utilizing its unique moss-based platform to produce novel drugs. 
ZFHN, an investor in local start-ups, is now providing up to EUR 60 million to 
help take CPV-101, a potentially game-changing complement regulator, to more 
advanced clinical stages. This will enable additional investment from venture 
capital firms and/or pharmaceutical companies on the path to approval. 

Complement regulators manage inflammatory processes by protecting the body's 
own cells and preventing excessive inflammation. Current methods block the 
inflammation pathway but promote further infections and pathogen proliferation. 

Andreas Schaaf, CSO of Eleva, says: 
"ZFHN has been a great supporter and long-term strategic partner. Together we 
are convinced that the unprecedented potential of our platform will deliver 
tomorrow's therapeutics."

Eleva also announced the addition of Dr. Ralf Smit as CBO (Chief Business 
Officer) to its Executive Board. Ralf Smit has over 25 years of experience in 
business development and commercialization with pharmaceutical companies 
(Roche, BioStrat). Previously an advisor to Eleva, he will now head its 
Clinical and Business Development. 

About Eleva

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.

Press contact 

eleva GmbH 
Fabienne Zeitter
Phone: +49 761 470 990

SOURCE: eleva GmbH