IGM Biosciences, Inc., a Mountain View, Calif.-based biotechnology company and a global leader in the research and development of engineered IgM antibodies for therapeutic use, closed a $102m Series C financing.
New investors included Redmile Group, Janus Henderson Investors, Vivo Capital and another large U.S.-based, healthcare-focused fund. Haldor Topsøe Holding A/S, which has funded IGM since 2010, also participated in the round.
Led by Fred Schwarzer, Chief Executive Officer, IGM Biosciences focuses on creating and developing engineered IgM antibodies for the treatment of cancer patients.
Founded in 2010, the company has created a proprietary IgM technology platform for the development of IgM antibodies for those clinical indications where their inherent advantages may provide superior performance, as compared to IgG antibodies.
IGM intends to use the funds to advance its IgM platform technology and its proprietary oncology pipeline, including its lead program, a CD20 x CD3 bispecific antibody, which is expected to enter the clinic later this year.