Lava Therapeutics, an Utrecht, The Netherlands- and Philadelphia, PA-based biotech company pioneering the development of bispecific antibodies to engage gamma-delta T cells for cancer therapies, closed an $83m (€71m) Series C financing.
The round was co-led by new investors Novo Ventures, the venture arm of Novo Holdings, and Sanofi Ventures, and included additional new investors Redmile Group, LLC, Ysios Capital and BB Pureos Bioventures. In addition, current investors Versant, Gilde Healthcare and MRL Ventures Fund, LLC participated. As part of the deal, Nanna Lüneborg, partner at Novo Ventures, Laia Crespo, EU head of investments at Sanofi Ventures, and Joël Jean-Mairet, managing partner and co-founder of Ysios, joined LAVA as members of the board of directors.
The company intends to use the funds for the advancement of its pipeline and platform.
Led by Stephen Hurly, chief executive officer, Lava Therapeutics is developing a proprietary bispecific antibody platform that engages gamma-delta T cells for the treatment of hematological and solid cancers. The company’s immuno-oncology approach activates Vγ9Vδ2 T cells upon binding to membrane-expressed tumor targets. Founded in 2016 based on intellectual property originating from the Amsterdam University Medical Center, Lava has established an experienced antibody research and development team located in Utrecht, the Netherlands (headquarters) and Philadelphia, USA.