Growth financing for Cologne-based MedTech Cevec Pharmaceuticals

NRW.Bank, among others, is increasing its investment. The money is to be used to expand the manufacturing capacity of gene therapies.

Cologne-based medtech Cevec has received internal growth financing. The amount was not disclosed. The money comes from existing investors, including NRW.Bank, which has held a stake in the start-up since 2009. Cevec has been profitable since 2020, and the money it has now raised is intended to increase its capacity to be able to produce gene therapies. "Cevec is at a very important stage of development," said Nicole Faust, CEO of the company. "As pharmaceutical companies increasingly build their gene therapy portfolios, this is the right time to invest and expand the company's cell line development capabilities to address the growing market for our technologies."

Gene therapies are being developed for diseases such as cancer, Alzheimer's and Parkinson's, among others, leading to a high demand for production capacity. Cevec offers pharmaceutical companies modern manufacturing solutions here. Customers include the Swiss pharmaceutical group Roche and the American MedTech Carisma Therapeutics, which uses gene therapies to combat tumors.