iVexSol Inc., a technology-based lentiviral vector (LVV) contract development and manufacturing organization (CDMO), announced $23.8 million in Series A-3 funding.

Investors Bristol Myers Squibb, Charles River Laboratories, and Asahi Kasei Medical, a division of Asahi Kasei, join existing investors including: Casdin Capital and BioLife Solutions to close Series A financing at a total of more than $39 million.

The new funding will be used to invest in iVexSol’s Intelligent Vector Solutions by advancing process and analytical technologies, expanding technical teams in Quality, Regulatory and cGMP operations, and augmenting existing infrastructure to support the production of stable LVV producer cell lines.

“Current vector production methods continue to struggle to meet clinical and commercial demand,” said Rodney Rietze, iVexSol co-founder and CEO. “Our cost-effective and highly scalable Intelligent Vector Solutions are designed to break the vector supply bottleneck and provide greater access to patients seeking life-saving treatments. Receiving support from industry leaders Bristol Myers Squibb and Charles River Laboratories, along with new entrants like Asahi Kasei Medical is transformative, enabling us to advance our production capabilities and provide a more comprehensive offering to our clients.”

According to the company, iVexSol’s Intelligent Vector Solutions revolutionized the production of LVVs – gene delivery vehicles that are a critical raw material in the manufacturing of life-changing cell and gene therapies (CGTs).

The technology platform uses banks of vector-producing cells to reliably produce LVV at significantly greater quantities than current approaches and facilitate the rapid scale-out needed for global demand, all within a smaller manufacturing footprint.

These advances enable shorter clinical development timelines, reduced costs, and ultimately, increased global access for patients waiting to receive these transformative medicines.

The company is currently focused on generating stable LVV cell lines using each client’s gene of interest, to enable a robust and readily available supply of “on-demand” vector to meet the client’s growing vector needs.