The round was led by OrbiMed with participation from Novartis Venture Fund and Pontifax.
In addition to the round of funding, Adicet also announced the acquisition of Applied Immune Technologies, Ltd., a Haifa, Israel-based company that develops immunotherapies directed to the intracellular proteome.
The company will use the funds to progress its universal immune cell therapy (“uICT”) platform technology and related products and advance Applied Immune Technologies’ programs and product pipeline.
Founded by Aya Jakobovits, Ph.D., President and Chief Executive Officer, and OrbiMed, Adicet Bio is a pre-clinical stage biotechnology company engaged in the design and development of immunotherapies for cancer and other disease indications, with a focus on novel universal immune cell therapies (uICT).
Based on work by Prof. Yoram Reiter, a world leader in the research of immunotherapies directed to the intracellular proteome, Applied Immune specializes in generating and developing T-Cell Receptor-Like (“TCRL™”) antibodies with high affinity and specificity to disease-specific intracellular peptides presented on the cell surface by the major histocompatibility complex (“MHC”). The company, which also established Epitarget™, a proprietary technology to identify and validate novel disease-specific peptide targets, will continue its operations in Israel as Adicet’s wholly-owned subsidiary.
Following the financing and acquisition, the Adicet Board of Directors will include: Jonathan Silverstein and Carl Gordon, General Partners and Co-Heads of Global Private Equity at OrbiMed, Aya Jakobovits, Florent Gros, Managing Director at Novartis Venture Fund, and Erez Chimovits, Managing Director at OrbiMed Israel.