Century Therapeutics, a Philadelphia, PA-based cell therapy company developing induced pluripotent stem cell (iPSC)-derived cell therapies in immuno-oncology, closed a $160m Series C financing.
The round was led by Casdin Capital and brought together a syndicate of new investors including Fidelity Management & Research LLC, the Federated Hermes Kauffmann Funds, RA Capital, Logos Capital, OrbiMed, Marshall Wace, Qatar Investment Authority, Avidity Partners, and Octagon Capital. Founding investors Versant Ventures and Leaps by Bayer also participated. Eli Casdin, Founder and Chief Investment Officer of Casdin Capital will be joining the Century Therapeutics Board of Directors.
Led by Lalo Flores, Chief Executive Officer, Century Therapeutics is harnessing the power of adult stem cells to develop curative cell therapy products for cancer. Its genetically engineered, iPSC-derived iNK and iT cell products are designed to specifically target hematologic and solid tumor cancers.
The company intends to use the funds to advance its rich pre-clinical pipeline, which includes multiple iPSC-derived CAR-iT and CAR-iNK cell products. These products are designed to resist host rejection, enhance cell persistence, and allow repeat dosing to provide durable responses in all patients.
The team anticipates beginning clinical testing of its first products in 2022, as well as generating multiple INDs annually in the coming years.