Neon Therapeutics, a Cambridge, Mass.-based immuno-oncology company, completed a $70m Series B financing.
The round was led by Partner Fund Management with participation from existing investors Third Rock Ventures and Access Industries, new investors Fidelity Management & Research Company, Wellington Management Company, Inbio Ventures and Nextech Invest.
The company intends to use the proceeds to advance its lead program NEO-PV-01, a fully personalized neoantigen vaccine, through an ongoing Phase 1b clinical trial, and for the preclinical development of NEO-PTC-01, a personalized adoptive T cell program, and the Shared Neoantigen Program.
Led by Hugh O’Dowd, chief executive officer, Neon Therapeutics develops neoantigen-based therapeutic vaccines and T cell therapies to treat cancer. A neoantigen-based product engine allows the company to develop multiple treatment modalities, including next-generation vaccines and T cell therapies targeting both personalized and shared neoantigens.