Morphocell closes $50 million series A as engineered-tissue race accelerates

Canadian biotech Morphocell Technologies has completed its series A at $50 million after a $10 million extension led by Investissement Québec and Italy’s CDP Venture Capital. The raise adds to $40 million secured in 2024 and provides more than three years of operating runway.

Chief executive Massimiliano Paganelli said the investment reflects confidence in Morphocell’s progress across development, manufacturing and team growth. The company now employs 44 people across Montréal, Cambridge in Boston and Toronto, positioning itself to advance its lead engineered-tissue therapy ReLiver toward first-in-human studies.

Morphocell enters a fast-growing market: liver-disease therapeutics were valued at around $20.3 billion in 2024 and may exceed $40 billion by early next decade. Severe liver failure still often requires transplantation, a market projected to near $3 billion by 2035, but shortages of donor organs create persistent unmet need.