DEALS AND FINANCING
CBMG completed $120 million Series A funding to accelerate its CAR-T therapy pipeline
Cellular Biomedicine Group developing innovative cellular immunotherapies for the treatment of cancer and degenerative diseases announced the closing of a $120 million Series A investment, led by AstraZeneca-CICC Fund, Sequoia Capital China and Yunfeng Capital. Both new and certain existing investors, including GIC and TF Capital, subscribed to the Series A financing. This round of financing will largely be used to accelerate the clinical development of the Company’s immune-oncology platform. Specifically, C-CAR039, an anti-CD19/CD20 bispecific CAR-T therapy for the treatment of patients with relapsed or refractory non-Hodgkin lymphoma and C-CAR088, BCMA therapy for patients with late-stage relapsed/refractory multiple myeloma, as well as armored CAR-T therapies and tumor-infiltrating lymphocytes therapies targeting solid tumors.
MiNK Therapeutics completed its IPO raising $40 million
MiNK Therapeutics, a clinical-stage company focused on allogeneic, off-the-shelf, invariant natural killer T (iNKT) cell therapies to treat cancer and other immune-mediated diseases, announced the closing of its previously announced IPO of 3,333,334 shares of its common stock at a public offering price of $12 per share. The gross proceeds from the offering were $40 million. The company had hoped to sell 4 million shares at $12-$16. MiNK expects data this quarter from a Phase 1 study of lead program AGENT-797 to treat multiple myeloma, as well as a trial to treat acute respiratory distress syndrome secondary to COVID-19. Evercore ISI, William Blair, B. Riley and Baird are underwriters.
LSP and Bpifrance back T cell company Egle’s with €40 million financing
Egle Therapeutics will advance its two lead assets into the clinic and strengthen its internal drug pipeline, having raised €40 million ($46.6 million) in a series A. The financing was co-led by LSP and Bpifrance through their InnoBio 2 fund, with participation from Fund+, Bioqube Ventures and Takeda Ventures. Led by CEO and co-founder Luc Boblet, Egle is developing immunotherapies targeting immune suppressor regulatory T cells for oncology and autoimmune diseases.