Genezen Secures $18.5 Million in Growth Equity to Expand Viral Vector Development and Manufacturing Capabilities
BOSTON and FISHERS, Ind., November 2nd, 2023 -- Genezen, a leading cell and gene therapy Contract Development and Manufacturing Organization (CDMO), today announced the closing of an $18.5 million follow-on growth equity investment led by Ampersand Capital Partners. The financing will accelerate Genezen's growth trajectory in retroviral, lentiviral and adeno-associated viral (AAV) vector manufacturing and support the execution of a robust pipeline of customer projects for innovators developing groundbreaking cell and gene therapies.
Steven Favaloro, President and CEO of Genezen, said "This is an exciting development for Genezen, continuing its momentum towards becoming a premier CDMO for cell and gene therapy innovators. A decade of experience in advanced therapies has helped us identify the need for a versatile, scientifically rigorous, and technically focused CDMO partner like Genezen. With Ampersand's strong partnership and support, Genezen will continue to deliver best-in-class development and manufacturing solutions for cell and gene therapies, accelerating the delivery of life-saving treatments to patients across the globe."
Genezen recently completed qualification of its 25,000 sq ft GMP viral vector facility in Fishers, Indiana. Favaloro added, "We are pleased to see that our LVV and AAV capabilities have generated so much attention in the market. This capital infusion will enable us to accelerate our growth and expansion plans at our Fishers site, including further technology investments, and build-out of additional state-of-the-art laboratories, manufacturing suites, and support areas, which will complement our current capacity and allow us to support additional cell and gene therapy innovators."
David Anderson, General Partner at Ampersand Capital Partners, added, "Given the ongoing rapid growth of the cell and gene therapy sector, we are excited to continue our support of Genezen. With its state-of-the-art GMP facility, the entire Genezen team has demonstrated a unique ability to develop robust capabilities that resonate with the market. Clients are drawn to the team's scientific expertise, and this equity financing will enable continued development and growth for Genezen."
Genezen is a contract development and manufacturing organization (CDMO) with a decade's experience at the heart of the rapid growth in the gene and cell therapy market. Genezen is a leader in the supply of retroviral vectors, lentiviral vectors, and AAV. Led by an extremely experienced team, a science-first approach influences continual investment in scalable, high-yield manufacturing processes and best-in-class technologies. For more information about Genezen, please visit genezen.com.
About Ampersand Capital Partners
Founded in 1988, Ampersand is a middle market private equity firm with $3 billion of assets under management dedicated to growth-oriented investments in the healthcare sector. With offices in Boston, MA and Amsterdam, Netherlands, Ampersand leverages a unique blend of private equity and operating experience to build value and drive long-term performance alongside its portfolio company management teams. Ampersand has helped build numerous market-leading companies across each of the firm's core healthcare sectors. For additional information, visit ampersandcapital.com or follow us on LinkedIn.