Adaptimmune secures a further US$104m investment for product
9 October 2014
Oxford-based therapeutics company Adaptimmune Limited, has
announced the completion of a US$104 million Series A financing
round. It plans to use the funds to advance the company’s internal
programmes into the clinic in multiple cancer indications.
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.
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 announced that it had entered into a
strategic collaboration and licensing agreement with GlaxoSmithKline
covering an option on the NY-ESO-1 clinical programme. The company
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.