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.
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