ViroCell Biologics, a cell and gene therapy (CGT) contract development and manufacturing organization (CDMO) specializing in GMP viral vector manufacturing for clinical trials, has completed an oversubscribed convertible note offering led by new investor First Light Asset Management LLC plus existing investors including Sartorius Stedim Biotech S.A. and Dorset Opportunity Fund LP.
 
Proceeds will accelerate ViroCell’s growth as it continues to gain commercial traction with its specialist services in viral vector design and manufacturing. ViroCell offers a full range of pre-clinical and clinical viral vector services that support academic and corporate innovators to accelerate the clinical development of novel CGTs.
 
Since achieving approval from the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) to manufacture and export viral vectors, ViroCell has seen significant demand for its services. This has already led to the signing of a five-year Master Services Agreement (MSA) with a prominent U.S. NCI-designated cancer center.
 
“We want to thank all our investors for their support and extend a warm welcome to First Light Asset Management, who led the oversubscribed financing based on their strong conviction in our unique market position, strategy and ability to deliver,” said John W. Hadden II, CEO at ViroCell. “We have been making significant strides commercially and are very pleased to see increasing demand for our differentiated viral vector service offering. The proceeds of this financing will allow us to better service cutting-edge cell and gene therapy research groups around the world.”