Fishers-based gene therapy firm Genezen has closed on a $18.5 million growth equity investment led by Boston-based Ampersand Capital Partners.
The company said Thursday it will use the funding to accelerate expansion plans at its Fishers headquarters, including technology investments and new laboratories.
Genezen is a gene and cell therapy contract development and manufacturing organization, or CDMO, with a focus on retroviral vectors, lentiviral vectors, and adeno-associated viral vector manufacturing.
Viral vectors are commonly used in gene therapy to deliver genetic materials into human cells.
“We are pleased to see that our LVV and AAV capabilities have generated so much attention in the market,” Genezen CEO Steven Favaloro said in a news release. “This capital infusion will enable us to accelerate our growth and expansion plans at our Fishers site, including further technology investments, and build-out of additional state-of-the-art laboratories, manufacturing suites, and support areas, which will complement our current capacity and allow us to support additional cell and gene therapy innovators.”
Genezen said it recently completed qualification of its 25,000-square-foot viral vector facility in Fishers. The company did not specify the scope of its proposed expansion with the latest funding infusion.
“Given the ongoing rapid growth of the cell and gene therapy sector, we are excited to continue our support of Genezen,” said Ampersand Capital Partners General Partner David Anderson. “With its state-of-the-art GMP facility, the entire Genezen team has demonstrated a unique ability to develop robust capabilities that resonate with the market. Clients are drawn to the team’s scientific expertise, and this equity financing will enable continued development and growth for Genezen.”
Genezen did not state how many jobs, if any, would be created with the funding. A request for more information from Inside INdiana Business was not returned.
Genezen originally operated out of Launch Fishers and in April 2020, announced plans to invest nearly $8 million to establish its space at the Crosspoint Business Park.
The IBJ contributed to this report.
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