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news.Tmunity Therapeutics, a biotherapeutics company focused on developing next-generation T cell immunotherapy, has raised new funding of $35m in a Series A investment from Kleiner Perkins and affiliates.
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This investment brings the total Tmunity Series A financing to $135 million. Tmunity is developing a diversified portfolio of novel treatments that exhibit best-in-class control over T cell activation and direction in the body.
Kleiner Perkins and affiliates join existing Tmunity investors Ping An Ventures, Parker Institute for Cancer Immunotherapy, Gilead Sciences, Inc., Be The Match BioTherapies, University of Pennsylvania and Lilly Asia Ventures.
Tmunity president and CEO Usman Azam said: “We welcome Kleiner Perkins and affiliates to an impressive list of committed investors who share in our vision to provide novel cell and gene therapy approaches and next-generation personalized treatments for patients.
“We are proud of this significant financial raise and enthusiastic about the prospects ahead for our company.”
Kleiner Perkins general partner Beth Seidenberg said: “Tmunity is focused on T cell therapy (CAR-T and TCR), one of the most promising and exciting technologies to emerge in the treatment of cancer.
“The field has been validated with approved therapies for B cell malignancies and the goal is to apply the technology and therapy to the treatment of solid tumors such as prostate, pancreatic, ovarian and other cancers that remain some of the toughest to cure.”
As previously announced, the proceeds from the Series A will be used to advance and expand the business and operational structure of Tmunity to support the rapid translation, development and manufacture of its portfolio of novel T cell based immunotherapies, first for the treatment of cancer.
Tmunity was founded on an exclusive collaboration and license agreement with the University of Pennsylvania, offering proprietary technologies and the unparalleled expertise in first-in-patient cell and gene therapies of its scientific founders, led by Carl H. June, MD.
Today, Tmunity is uniquely positioned to integrate the best technologies and pursue multiple approaches to engineered T cell therapies simultaneously in order to advance treatments into the clinic rapidly, optimize and scale manufacturing, pursue regulatory approvals aggressively, and thus deliver them effectively to patients.
Source: Company Press Release
