Gene & cell therapy manufacturing specialist Ascend launches with over $130M of funding as expert teams merge9 May 2023 -- London, UK --
Ascend Gene & Cell Therapies (Ascend), a specialist company innovating manufacturing processes to improve quality, potency, safety and cost enabling better reach for gene therapy technologies, announces today that it has launched as a facilitator for gene therapy companies to help translate product ideas into viable clinical programmes.
Ascend offers process development, clinical manufacturing, analytical and regulatory support for biotech companies working in advanced modalities requiring flexible CMC services.
Originally founded by Monograph Capital, Ascend has raised a total of $132.5m, most recently completing a Series A fundraiser led by Abingworth and Petrichor, supported by DCVC Bio, 4BIO Capital, Cathay Health, Deerfield Management, Digitalis Ventures and Ajinomoto Co., Inc.
This fundraising has enabled the acquisition of CMC capabilities and technologies from Freeline Therapeutics and provides operational runway to build the business.
Initially focused on high-quality adeno-associated virus (AAV) vectors, Ascend brings together a team of approximately 120 cross-functional experts who have already developed processes for a number of AAV products currently under clinical development.
The company is led by an experienced leadership team, headed by former chief operating officer at Cognate Bioservices (now part of Charles River), CEO Mike Stella who brings 30 years of manufacturing expertise. Ascend’s team also includes chief financial officer Wes McConnell who joined from Bavarian Nordic with 20 years in the life science and viral vector-based manufacturing field, chief scientific officer Markus Hörer who began his career in AAV over 30 years ago and brings significant expertise in developing AAV products as well as other viral vector-based therapeutics, and chief operating officer Arjan Roozen who has built and operated a number of ATMP facilities across multiple geographies.
Mike Stella, CEO of Ascend, said: “Ascend is a service provider for biotechnology companies, created by bringing together expert teams with regulatory sophistication who have ‘been-there-done-that’ and who understand that the quality and potency of product is just as important as yield.
“We believe that creating a therapy that changes lives means improving on what’s come before. We are excited to bring a new approach to the space and thank all our investors for their support. We will continue to refine and flex our model, staying adaptable to meet the needs of the market.”
Lead investor Bali Muralidhar, chief investment officer, Abingworth added: “Ascend brings an extremely compelling proposition to the CGT space and is already working with biotechnology clients who appreciate the team’s analytical expertise, enabling the development of high-quality, high-potency vectors to make safe and efficacious therapies, as well as the adaptability and holistic service.
“We are thrilled to be supporting the UK-based company’s next phase of growth, which among other things will focus on building the US manufacturing footprint, adding capabilities and expanding into complementary modalities.”
Co-lead investor Michael Beecham, partner, Petrichor, commented: “The team at Ascend represents world-leading expertise across AAV development and manufacturing, bringing the science-first perspective of leading their own programs and solving complex challenges to clients across CGTs. We are excited to support Ascend in its global expansion and future growth.”
Founding investor, Tim Funnell at Monograph Capital, said: “AAV manufacturing is complex and needs teams that show real expertise and ownership. This led many advanced modality biotech developers to build their own internal CMC capabilities. However, these companies are now finding it difficult to sustain and fully utilise their facilities.
“Ascend is realigning this market by carving out CMC units from biotech product developers and offering their capabilities as a service to the originator alongside new clients. This is a more efficient structure that consolidates best-of-breed manufacturing methods and will support the next generation of companies who are looking for external CMC partners.”
Bali Muralidhar and Andrew Sinclair of Abingworth, Michael Beecham of Petrichor, Eric Shiozaki of DCVC Bio and Andrew Kozlov of 4BIO Capital will join Ascend’s Board of Directors. Jia-Yi Har of Cathay Health joins as a Board Observer.
Ascend will be attending The American Society of Gene & Cell Therapy (ASGCT) 26th Annual Meeting in Los Angeles, US, 16-20 May 2023, presenting nine posters exemplifying its capabilities from AAV vector design to manufacturing platform process and integrated analytics platform. About Ascend Gene and Cell Therapies
Operating from an evolving technology base which uses a split two-plasmid transfection system for AAV manufacture and broad suite of assays, Ascend has an established global footprint created by acquiring and merging experienced teams across three countries and two continents. Ascend’s operations are headquartered in the UK with GMP production in Potters Bar, North London; platform technology research in the San Francisco Bay Area, US; and a specialist process development and analytics team in Munich, Germany. Visit www.ascend-gctx.com
to find out more.