Cellares raises $255 million to launch first IDMO

San Franciso, USA-based biotech start-up Cellares, which has coined its own acronym for an out-sourcing organization, “integrated” development and manufacturing organization (IDMO), has secured $255 million in Series C funding led by new investor Koch Disruptive Technologies.

In connection with the financing, David Mauney, managing director at Koch Disruptive Technologies, will join the company’s board of directors. Global biopharmaceutical company and cell therapy leader Bristol Myers Squibb (NYSE: BMY) also participated in the round, alongside DFJ Growth, Willett Advisors and existing investors Eclipse, Decheng Capital, and 8VC.

“Cell therapies have tremendous curative potential across a wide range of diseases. But right now, manufacturing by conventional CDMOs is expensive, failure-prone, and impossible to scale,” said David Mauney, managing director of Koch Disruptive Technologies, adding: “Cellares is driving transformation in the marketplace by combining an Industry 4.0 approach with full vertical integration. As the first IDMO, Cellares is empowering cell therapy companies to build viable businesses, remain competitive, and meet the needs of fast-growing patient populations.”