T-Therapeutics expands Series A financing to $91M
VenturesT-Therapeutics, a biotechnology company developing next generation T cell receptor (TCR) therapeutics for cancer and autoimmune disease, today announces the successful expansion of its Series A financing, raising a further $32 million. Following the initial $59 million raised, this brings the Series A total to date to $91 million.
New investors Tencent and BGF joined the Series A syndicate, alongside all existing major shareholders Sofinnova Partners, F-Prime, Digitalis Ventures, Cambridge Innovation Capital, Sanofi Ventures and, through Cambridge Enterprise Ventures, the University of Cambridge Venture Fund.
T-Therapeutics will use the additional proceeds to drive its pipeline of first-in-class TCR-CD3 bispecifics across oncology and autoimmune diseases towards the clinic, including the further exploration of new therapeutic strategies such as T cell subset depletion. T-Therapeutics’ lead asset in oncology exploits a pan-tumour driver target, applicable across multiple different solid tumour types. Its lead immunology programme is a pan-autoimmune bispecific designed for precision immune reset, achieved by the selective depletion of pathogenic immune cells.
Theodora Harold, Chief Executive Officer of T-Therapeutics, said:
“Our transformative medicines tackle upstream disease-drivers that can have pan-indication impact. We are delighted to have significantly added to our Series A financing, which we see as a strong validation of both our technology and our progress to date. I would like to thank Tencent and BGF for their belief in our potential, as well as all our existing investors for their continued support.”
T-Therapeutics’ TCR platform, OpTiMus®, can generate an almost unlimited repertoire of high specificity, fully human TCRs, enabling access to validated, but previously undruggable, intracellular targets. The Company also leverages its proprietary next-generation CD3 T cell engagers (TCEs), which have been engineered for high potency, superior safety and favourable pharmacokinetics. OpTiMus-derived TCRs are combined with the proprietary TCEs to form first-in-class bispecific drug candidates. T-Therapeutics’ pipeline is focused on upstream disease-drivers with pan-indication potential to deliver significant clinical benefit for patients.
Graziano Seghezzi, Managing Partner at Sofinnova Partners, said:
“The existing investors co-founded T-Therapeutics to push the boundaries of bispecific technology. This additional capital enables us to expand into T cell subset depletion, one of the most exciting areas in immunology, while continuing to advance oncology programmes. We are now ideally positioned to address both cancer and autoimmune disease, two broad disease areas with critical unmet medical needs, with a platform that unlocks targets previously considered undruggable.”
Luke Rajah, Partner at BGF, added:
“This is a leadership team with an outstanding track record of building successful drug discovery businesses and translating science into medicines. Backed by a syndicate of world-class life sciences investors, T-Therapeutics is uniquely positioned to unlock previously undruggable targets with its first-in-class bispecifics. We are proud to support the team and help catalyse their programmes towards the clinic.”
