TScan Therapeutics Raises $100M in Series C Financing

TScan Therapeutics

TScan Therapeutics, a Waltham, Mass.-based biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies in oncology, closed a $100m Series C financing.

Backers included new investors BlackRock, RA Capital Management, and two undisclosed healthcare-focused funds and existing investors Longwood Fund, 6 Dimensions Capital, Bessemer Venture Partners, GV, Novartis Venture Fund and Pitango HealthTech.

Proceeds from this financing will be used to advance TScan’s TCR-T cell therapy pipeline for solid and liquid tumors into the clinic.

Led by David Southwell, Chief Executive Officer, TScan is advancing a multi-TCR T cell therapy program for solid tumors, with plans to nominate an initial set of three target candidates in 2021 and IND submissions to follow in 2022. The company also signed a strategic partnership with Novartis in 2020 for the discovery of novel oncology targets in a select solid tumor indication. TScan expects to complete IND-enabling studies for two of its liquid tumor programs, TSC-100 and TSC-101, and submit INDs for both programs with the U.S. Food and Drug Administration (FDA) in the second half of 2021. The company is also exploring use of its novel target discovery technology for both infectious and autoimmune diseases.