Cellares announced that Prime Radiant Partners has invested $50 million in the company’s Series D financing, bringing the total round to $327 million and providing additional capital to support commercial operations, a planned initial public offering in 2027, and expansion into Europe.
Prime Radiant Fund SLP SICAV-RAIF, advised by Prime Radiant Partners, joins an investor group that includes ARK Invest, funds managed by BlackRock, Eclipse, T. Rowe Price Investment Management, Duquesne Family Office, Baillie Gifford, Intuitive Ventures, EDBI, Gates Frontier, DC Global Ventures, DFJ Growth, and Willett Advisors.
Cellares said the financing is expected to fund the company through the launch of commercial-scale operations and an anticipated IPO in 2027. The capital will also support the construction of its European Smart Factory in Leiden, the Netherlands, which is designed to provide automated cell therapy manufacturing capabilities for drug developers serving global markets. The facility is expected to be GMP-ready in 2027.
The company said Prime Radiant’s expertise in healthcare services and its presence in Milan and Munich will support its European expansion as demand for automated cell therapy manufacturing grows across the region.
Cellares, which describes itself as the first Integrated Development and Manufacturing Organization (IDMO), provides cell therapy development and manufacturing services through its Cell Shuttle and Cell Q automated platforms. The company said the technologies enable higher process success rates and significantly greater manufacturing capacity compared with conventional contract development and manufacturing organizations.
The company currently supports programs involving CAR T, TCR-T, and progenitor T-cell therapies. Drug developers working with the Cell Shuttle platform include Bristol Myers Squibb, Cabaletta Bio, TScan Therapeutics, and ProTgen.
Cellares highlighted a $380 million global manufacturing agreement with Bristol Myers Squibb covering commercial-scale capacity in the United States, Europe, and Japan, as well as a 10-year commercial supply agreement signed with Cabaletta Bio in April 2026 following the successful delivery of GMP cell therapy doses to patients.
Headquartered in South San Francisco, Cellares operates a commercial-scale Smart Factory in Bridgewater, New Jersey, and is constructing additional facilities in Europe and Japan.
KEY QUOTES:
“Cell therapy has moved from scientific promise to commercial reality, but the manufacturing infrastructure to support it at scale does not yet exist at the level the market will need. Cellares is building that infrastructure across the markets where these therapies will be delivered. Our roots in European pharma services give us a meaningful perspective on what it takes to operate in those markets, and we will be active partners in supporting Cellares’ expansion in Europe.”
Walid Gardezi, Co-Founder and Partner, Prime Radiant Partners
“A global cell therapy manufacturing network has to be built in all major markets at once. Prime Radiant’s operational depth in pharma services across continental Europe makes them a strategic partner as we expand our manufacturing presence in Europe. The investors who have joined this Series D reflect the strength of the platform and the scale of what comes next.”
Fabian Gerlinghaus, Co-Founder and CEO, Cellares
