RheaVita Raises €2.5M in Series A Funding
Summary
RheaVita, a Ghent, Belgium-based provider of freeze-drying technology for biopharmaceutical products, raised €2.5M in Series A funding. Concurrent with the financing, Kjell Mortier from Novalis Biotech Acceleration and Stefan De Waele of PMV will join RheaVita’s Board of Directors. The company intends to use the funds to build a GMP compliant biopharmaceutical continuous, controlled, freeze-drying production line and accelerate commercialization of its technology. Founded in 2018 as a spin-out of Ghent University and led by Jos Cover, CTO, and Prof. Dr. Thomas De Beer, CEO, RheaVita has developed a continuous freeze-drying solution to address biopharmaceutical product development, manufacturing and supply needs in order to reach patients. The company will use the funds to further develop and accelerate commercialization of its R&D and GMP compliant continuous freeze-drying production-scale equipment, along with team expansion.