We've updated our Privacy Policy to make it clearer how we use your personal data.

We use cookies to provide you with a better experience. You can read our Cookie Policy here.

Advertisement
Adaptimmune Secures $104 Million in Series A Financing
News

Adaptimmune Secures $104 Million in Series A Financing

Adaptimmune Secures $104 Million in Series A Financing
News

Adaptimmune Secures $104 Million in Series A Financing

Read time:
 

Want a FREE PDF version of This News Story?

Complete the form below and we will email you a PDF version of "Adaptimmune Secures $104 Million in Series A Financing"

First Name*
Last Name*
Email Address*
Country*
Company Type*
Job Function*
Would you like to receive further email communication from Technology Networks?

Technology Networks Ltd. needs the contact information you provide to us to contact you about our products and services. You may unsubscribe from these communications at any time. For information on how to unsubscribe, as well as our privacy practices and commitment to protecting your privacy, check out our Privacy Policy

Adaptimmune Limited has announced the completion of a $104 million Series A financing round.

The oversubscribed round was led by New Enterprise Associates (NEA), and additional new investors participating included OrbiMed Advisors LLC, Wellington Management Company, LLP, Fidelity Biosciences, Foresite Capital Management, Ridgeback Capital Management, Novo A/S, QVT, Rock Springs Capital, venBio Select and Merlin Nexus. Existing investors participating included the University of Oxford and others.

Adaptimmune plans to use the proceeds from the Series A financing to advance the company’s internal programmes into the clinic in multiple cancer indications.

Using its unique T-cell receptor (TCR) engineering technology, Adaptimmune has created TCRs which are deployed to target the cancer testis antigen, NY-ESO-1, as well as other targets. In June the company has announced that it had entered into a strategic collaboration and licensing agreement with GlaxoSmithKline covering an option on the NY-ESO-1 clinical programme. Adaptimmune is currently running trials across the United States in multiple myeloma, melanoma, sarcoma and ovarian cancer.

Adaptimmune has also announced changes to its Board. David Mott, NEA General Partner and head of healthcare; Dr Ali Behbahani, a Partner in NEA’s healthcare team, and Dr Peter Thompson, a Private Equity Partner at OrbiMed, have been appointed as non-executive directors.

They will serve alongside existing Chairman, Dr Jonathan Knowles, and Chief Executive Officer, James Noble. The Board is further strengthened by Dr Elliott Sigal, former Chief Scientific Officer and Executive Vice President of Bristol Myers-Squibb, who joins as an independent industry representative.

“We are delighted to secure this strong financial support from some of the most prestigious and highly regarded biotechnology investment groups in the US, led by NEA,” said James Noble. “Their commitment, and the perspective and experience of our new board members, will be invaluable as we build the company up and accelerate the development of our own pipeline of clinical programmes.”

“We are very pleased to be leading this round in Adaptimmune against a backdrop of increasing global interest in the immuno-oncology field”, said David Mott. “We look forward to working closely with the company to rapidly progress the development of its innovative research pipeline in TCR T-cell therapy, which offers an opportunity to bring potentially breakthrough cancer treatments to patients.”

Advertisement