Adicet Bio, Inc., a Menlo Park, Calif.-based biopharmaceutical company focused on the development of allogeneic cell therapies for cancer using innovative gamma delta T cells, closed an $80m Series B financing.
New investors include aMoon2 Fund, Regeneron Pharmaceuticals, Inc., Johnson & Johnson Innovation – JJDC, Inc. (JJDC), OCI Enterprises, Inc, KB Investment Co., Ltd., Consensus Business Group, SBI JI Innovation Fund, Samsung Venture Investment Corporation, Handok, Inc., and DSC Investment, Inc. All existing investors including OrbiMed, Novartis Venture Fund and Pontifax also participated in the financing.
As part of the Series B financing, aMoon and JJDC will be joining Adicet’s Board of Directors. Representing aMoon Fund will be Yair Schindel, M.D., Co-Founder & Managing Partner.
The company intends to use the funds to continue to develop its proprietary technology, to enter the clinic in Non-Hodgkin’s Lymphoma and to advance its solid tumor programs.
Led by Anil Singhal, Ph.D., President and Chief Executive officer, Adicet Bio is a pre-clinical stage biotechnology company developing novel universal immune cell therapies based on gamma delta T cells engineered with Chimeric Antigen Receptors. Adicet is also focused on identifying and validating cancer specific targets directed to the intracellular proteome and then generating T Cell Receptor-like monoclonal antibodies (TCRLs) directed to these cancer-specific peptide targets presented by MHC Class I complexes. These TCRLs are being used to arm T cells or as T cell engagers in solid tumors. In August 2016, Adicet entered into a strategic collaboration with Regeneron Pharmaceuticals, Inc. to develop next-generation engineered immune-cell therapeutics using Adicet’s gamma delta T cell allogeneic platform technology.