Cognate BioServices Secures New Financing Round to Advance Cell Immunotherapy Development

On September 1, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company Cognate BioServices (Cognate) announced the completion of a new round of financing (the specific round was not disclosed), with EW Healthcare Partners (EW) as the investor. The specific amount of this investment has not been disclosed.

Upon completion of this financing round, Cognate will further develop and commercialize cell-based immunotherapy products such as CD-Tcar-T, NK cells, TILs, and MILs, while enhancing its commercial manufacturing infrastructure and expanding its base of existing and prospective clients.

Cognate, founded in 2002 and headquartered in Maryland, USA, is a leading biotechnology company. The company primarily develops cellular immunotherapies. Cognate is committed to providing comprehensive clinical trial and manufacturing services to companies and institutions engaged in cell product development. The company possesses extensive operational, technical, leadership experience, and expertise in immunotherapy and regenerative medicine. Cognate is one of the few contract development and manufacturing organizations (CDMOs) currently capable of developing personalized products. The company has commercial-scale manufacturing capabilities in Memphis, Tennessee, to support product markets in the European Union and the United States.

Evis Hursever, Managing Director at EW, commented, “After getting to know Cognate over a period of time, we have been deeply impressed by the development approach of Cognate’s management team. Cognate’s strategic plan is highly compelling, and we strongly support the Cognate team in continuing to fulfill their mission.”

J. Kelly Ganjei, CEO of Cognate, stated, “Cognate is pleased to partner with the EW team to further expand our manufacturing capacity and R&D capabilities. With this new partnership, combined with our existing shareholders, Cognate can continue to focus on growth to meet the rising demand in the commercial cell therapy market. We look forward to delivering enhanced products and services to our customers and patients in the near future.”

Headquartered in California, USA, EW is a venture capital firm specializing in the healthcare sector. With over $3 billion in assets under management, it is one of the longest-standing growth equity firms. EW primarily invests in rapidly growing healthcare companies in the fields of pharmaceuticals, medical devices, diagnostics, and technology services. Since its establishment in 1985, EW has been dedicated to the healthcare industry and has become a long-term investor in more than 150 healthcare companies across various sectors, stages, and regions. The team consists of more than 20 senior investment professionals, with offices in Palo Alto, Houston, New York, and London.

(Compiled by Hu Yifan)