- ViroCell Biologics completed an oversubscribed convertible note offering, led by First Light Asset Management, with proceeds earmarked for growth acceleration.
- The company is experiencing increased demand for its GMP viral vector manufacturing services, following UK MHRA approval.
ViroCell Biologics has successfully completed an oversubscribed convertible note offering, aimed at driving the company’s growth in the cell and gene therapy (CGT) sector. The funding round was led by new investor First Light Asset Management LLC, with participation from existing investors Sartorius Stedim Biotech S.A. and Dorset Opportunity Fund LP. The specific terms of the offering remain confidential.
The company plans to utilize the proceeds to enhance its capabilities in viral vector design and manufacturing, an area where it has been gaining significant commercial traction. ViroCell’s services span the entire spectrum of pre-clinical and clinical viral vector production, supporting both academic and corporate clients in advancing novel CGTs.
The demand for ViroCell’s services has surged since the company received approval from the UK’s Medicines and Healthcare products Regulatory Agency (MHRA) to manufacture and export viral vectors. This growing interest is exemplified by a recent five-year Master Services Agreement (MSA) with a prominent U.S. NCI-designated cancer center.
John W. Hadden II, CEO at ViroCell, expressed his appreciation for the investor support, stating, “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.”
First Light Asset Management’s CEO, Matt Arens, echoed the optimism, noting the company’s strong market position and expressing confidence in ViroCell’s growth potential.
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