US-based cancer therapy developer Artiva Biotherapeutics completed a $120m series B round on Friday featuring drug producer GC LabCell and its parent company, GC.
The round was led by venture capital firm Venrock’s Healthcare Capital Partners while 5AM Ventures, RA Capital Management and VenBio Partners all participated as existing backers.
New investors including Acuta Capital Partners, Cormorant Asset Management, EcoR1 Capital, Franklin Templeton, Janus Henderson Investors, Logos Capital, RTW Investments, Surveyor Capital and Wellington Management Company filled out the round.
Artiva is developing cellular immunotherapies that will utilise natural killer (NK) cells which trigger the immune system to destroy virus-infected cells in order to combat cancer.
The company’s drug candidates have been licensed from GC LabCell and they include AB-101, which is currently in a phase 1/2 clinical trial for relapsed or refractory B-cell lymphoma in combination with an existing monoclonal antibody treatment dubbed rituximab.
The company had publicly launched in June 2020 with a $78m series A round co-led by 5AM Ventures, VenBio Partners and RA Capital that included GC LabCell, GC and Medivate Partners.
Fred Aslan, Artiva’s CEO, said: “The quality and support of the investor groups participating in this financing further validates the promise of our manufacturing first strategy, the potential of our NK cell platform and our goal to provide safe, effective and truly off-the-shelf cell therapy treatments that are immediately accessible to cancer patients.
“I would also like to welcome Bong Koh (a partner at Venrock Healthcare Capital Partners) to our board of directors and look forward to drawing upon his expertise as we continue to advance our clinical and other development activities.”
