Zukunftsfonds Heilbronn leads €60m round for Eleva

The company also announced in a statement that Ralf Smit will be appointed to its executive board.

Eleva intends to use the fresh capital to advance the development of its CPV-101 drug candidate.

The company was known as Greenovation prior to May 2020, when it relaunched as Eleva.

Zukunftsfonds Heilbronn generally makes initial investments of €2-15m, focusing on startups in the Heilbronn region.

Previous funding
In February 2002, Mediport Venture Funds made an early-stage investment in Eleva (then known as Greenovation).

In November 2006, Zukunftsfonds Heilbronn, Mediport, Seed Venture and Gradus Venture led a €5.4m investment. Zukunftsfonds Heilbronn invested €3.5m in the deal, according to Unquote Data.

Company
Eleva uses a moss-based platform to develop proteins for use in drug candidates, including antibodies, biobetters and fusion toxins. The company works in partnership with pharmaceutical companies to develop therapies. Founded in 1999, the company was known as Greenovation until May 2020 and is headquartered in Freiburg. It employs fewer than 50 staff, according to LinkedIn.

People
Eleva – Andreas Schaaf (chief scientific officer).
Zukunftsfonds Heilbronn – Thomas Villinger (founder, CEO).

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