Morphocell Technologies has completed a $50 million Series A financing following a US$10 million extension led by Investissement Québec and CDP Venture Capital. The closing brings the total Series A raise to $50 million after the company secured US$40 million in February 2024 through a round led by Genson Capital. The new funding expands Morphocell’s investor base with two mission-driven institutional backers and extends the company’s operating runway to more than three years.
Based in Laval, Québec, Morphocell is developing next-generation tissue therapeutics with an initial focus on liver disease. Since the first Series A closing, the company has expanded to 44 employees across the Greater Montréal Area, Cambridge (Boston), and Toronto. Its vertically integrated structure spans discovery, cell manufacturing, and preclinical development as the company continues building a comprehensive regenerative medicine platform.
The new investment deepens the participation of Investissement Québec and brings CDP Venture Capital into the syndicate, marking CDP’s first investment in a Canadian biotechnology company. The funding will support Morphocell’s plans to advance its lead program, ReLiver, into clinical proof-of-concept, expand its manufacturing capacity, strengthen its team, and support global partnership development. The company will also establish its first European subsidiary in Italy, reflecting its Italian-founded origins and reinforcing its expansion into Europe’s biotechnology community.
With this Series A financing now finalized, Morphocell stands among the most well-capitalized private regenerative medicine companies in Canada. The new resources position the company to accelerate its scientific, operational, and geographic growth as it works to commercialize its stem cell–derived tissue and organ replacement therapies.
KEY QUOTES
“Since our initial Series A close, Morphocell has delivered remarkable progress across development, manufacturing and team expansion. The decision by Investissement Québec to deepen its commitment and by CDP Venture Capital to join our syndicate represents a powerful vote of confidence in our vision and execution. Their support further validates the global impact potential of our tissue-engineered therapies and strengthens our capacity to create transformative solutions to patients living with liver disease.”
“Morphocell’s goal has always been clear, to create revolutionary cell-based organ replacement therapies that cure patients. This additional funding reinforces our shared conviction, with our investors, our partners, and our team, that we are building the future of regenerative medicine right here in Québec.”
Dr. Massimiliano Paganelli, CEO and Co-Founder, Morphocell Technologies
“Building on the first support from Impulsion PME in 2024, we are proud to continue our business relationship with Morphocell by reinvesting in its development through the new Fonds Impulsion and our own funds. The growing life-sciences industry is providing a global showcase for Québec talent and expertise and paving the way for the emergence of innovative solutions to multiple health challenges. Investissement Québec is delighted to help Morphocell achieve its ambitions.”
Bicha Ngo, President and CEO, Investissement Québec
“We are particularly proud to be part of Morphocell’s journey, as it is a great example of how Italian world-class talent can innovate and drive impact on a global level. This marks our first investment in a Canadian biotech, a decision driven by our commitment to connect Italy with global innovation ecosystems. Our investment enables the establishment of Morphocell’s first European subsidiary, in Italy, which will build on the Country’s great talent, research capabilities, and industrial excellence, to strengthen the company’s global role in regenerative medicine.”
Alessandro Scortecci, Chief Direct Investments, CDP Venture Capital
“Our government is proud to support Morphocell Technologies in its growth. We want to help stimulate innovation in Quebec, which will play a decisive role in the evolution of modern medicine, particularly in regenerative medicine. This commitment is part of our desire to build a solid, dynamic, and forward-looking ecosystem where our companies can develop promising solutions for the health of tomorrow.”
Christine Fréchette, Minister of Economy, Innovation, and Energy
