Cellares Secures $277 Million in Series D Funding Led by ARK Invest

Cellares Raises $277 Million in Series D Funding

Cellares, based in South San Francisco, California, has successfully raised $277 million in a Series D funding round. The round was spearheaded by ARK Invest, with participation from a diverse group of investors, including BlackRock, Eclipse, T. Rowe Price Investment Management, Baillie Gifford, Duquesne Family Office, Intuitive Ventures, EDBI, Gates Frontier, DC Global Ventures, DFJ Growth, and Willett Advisors. The company, co-founded by CEO Fabian Gerlinghaus and President Omar Kurdi, focuses on automating cell therapy manufacturing through its Integrated Development and Manufacturing Organization (IDMO) model.

Investor Insights

ARK Invest, which led the round with a $20 million contribution, views Cellares as a key player in overcoming the manufacturing challenges associated with cell therapy. Cathie Wood, Founder, CEO, and CIO of ARK Invest, noted that the primary hurdle in the cell therapy industry is not scientific validation but rather the efficient and affordable scaling of manufacturing processes. She highlighted Cellares' use of robotics, software, and biotechnology as pivotal in advancing the industrialization of cell therapy production.

Technological Advancements and Milestones

Cellares has reached significant milestones in its mission to streamline cell therapy manufacturing. Notably, the company has successfully manufactured and delivered its first Good Manufacturing Practice (GMP) cell therapy doses using its Cell Shuttle platform. These advancements have led to long-term commercial agreements with major biopharmaceutical companies such as Bristol Myers Squibb and Cabaletta Bio.

Ovid Amadi, Ph.D., Multiomics Portfolio Manager and Director of Research at ARK Invest, emphasized the complexity of manufacturing personalized therapies under GMP conditions. He pointed out that Cellares' vertically integrated IDMO model has shown both technical and commercial validation, evidenced by successful partnerships and clinical applications.

Strategic Use of Funds

The newly secured funding will enable Cellares to further develop its manufacturing capabilities and expand its commercial partnerships. The company aims to enhance its Cell Shuttle platform and support the production of investigational therapies like rese-cel, a CAR T cell therapy developed by Cabaletta Bio. Following the successful infusion of GMP doses, Cabaletta Bio has entered into a 10-year commercial supply agreement with Cellares to meet future manufacturing demands.

Conclusion

With this latest influx of capital, Cellares is well-positioned to continue its growth trajectory and address the critical manufacturing needs of the cell therapy industry. The involvement of high-profile investors underscores the confidence in Cellares' innovative approach to industrializing cell therapy production.