US-based cellular vaccine developer SQZ Biotechnologies closed a $65m series D round on Monday that included GV and Illumina Ventures, respective investment subsidiaries of internet technology conglomerate Alphabet and genomics technology producer Illumina.
The round was led by Singaporean government-owned investment firm Temasek and also featured NanoDimension, Polaris Partners, an unnamed US-based fund and JDRF T1D Fund, which is managed by diabetes-focused charity JRDF.
Spun out of Massachusetts Institute of Technology in 2013, SQZ is working on cell therapies that exploit the body’s immune system to fight diseases.
The series D proceeds will enable the company, which has so far focused on cancer and autoimmune diseases, to expand its cellular vaccine development platform into infectious diseases. It will also begin work on a point-of-care system that could allow treatments to be generated in clinics.
SQZ completed a $72m series C round in 2018 that was backed by GV, Illumina Ventures and insurance provider Orient Life, as well as NanoDimension, Polaris Partners, JDRF T1D Fund, Everblue, Invus, Viva Ventures Biotech, Bridger Healthcare Partners and Global Health Science Fund.
GV had already taken part in the company’s $24m series B round in 2016 together with Quark Venture, NanoDimension and Polaris Partners, the latter investor having led a $5m series A round the previous year that included 20/20 Healthcare Partners.
