Eleva secures up to 60 million euros to advance a drug candidate

Eleva GmhH, a Germany-based manufacturer of biologics, has secured up to 60 million euros ($73.7 million) in funding from Zukunftsfonds Heilbronn (ZFHN).

The funds will help advance one of its drug candidates, CPV-101, to stages that will facilitate further investment from venture capitalists and/or pharmaceutical companies.

Eleva has been utilizing its unique moss-based platform to produce novel drugs. ZFHN, an investor in local start-ups, is now providing up to 60 million euros to help take CPV-101, a potentially game-changing complement regulator, to more advanced clinical stages. This will enable additional investment from venture capital firms and/or pharmaceutical companies on the path to approval.

Complement regulators manage inflammatory processes by protecting the body's own cells and preventing excessive inflammation. Current methods block the inflammation pathway but promote further infections and pathogen proliferation.

Andreas Schaaf, chief scientific officer of Eleva, says: "ZFHN has been a great supporter and long-term strategic partner. Together we are convinced that the unprecedented potential of our platform will deliver tomorrow's therapeutics."