Neon Therapeutics Completes $36M Crossover Series B Financing

Neon Therapeutics, a Cambridge, MA-based clinical-stage immuno-oncology company developing neoantigen therapies, completed an additional $36m extension to its Series B financing.

The Series B extension included participation from existing investors, as well as new investors. Participants included Fidelity Management & Research Company, Partner Fund Management, Access Industries, Wellington Management, Pharmstandard International, Arrowmark Partners, Nextech Invest, Hillhouse Capital Group and Casdin Capital.
Combined with $70m announced in January 2017, Neon Therapeutics brings the total raised during this Series B crossover round to $106m.

The company intends to use the funds for ongoing clinical development of its lead product candidate, NEO-PV-01, a personal neoantigen vaccine, currently in Phase 1b development, and for the ongoing preclinical development of NEO-PTC-01, a personal neoantigen T cell program.

Led by Hugh O’Dowd, CEO, Neon Therapeutics is a clinical-stage immuno-oncology company and a leader in the field of neoantigen-targeted therapies. The company’s proprietary neoantigen platform develops neoantigen-targeted therapies using two distinct approaches. In NEON/ONE, these neoantigens are specific to each individual. In NEON/SELECT, these neoantigens are shared across subsets of patients and tumor types.

The most advanced product candidate is NEO-PV-01, a personal neoantigen vaccine, that is currently being evaluated in a Phase 1b open-label clinical trial for patients with metastatic melanoma, non-small cell lung cancer or bladder cancer.



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