US-based cancer therapeutics developer HiberCell has secured $67.4m in a series B round featuring Mount Sinai Innovation Partners, an investment and commercialisation firm for care provider Mount Sinai Health System, and pharmaceutical firm Bristol-Myers Squib.
The round also included Huizenga Capital Management, Monashee Investment Management, funds managed by Tekla Capital Management, Hercules Capital, Arch Venture Partners, Magnetic Ventures, Trinitas Capital and unnamed series A investors and undisclosed additional participants.
Alongside the series C financing, Hercules Capital provided HiberCell with a $30m debt facility.
HiberCell was founded in 2019 by Arch Venture Partners and undisclosed life science-focused investors. The company is developing novel therapeutics that are designed to prevent relapse and metastasis in cancer patients, which it claims are the most common causes of cancer mortality.
HiberCell will use the proceeds to progress the clinical development of its programmes.
Arch Venture Partners led HiberCell’s $60.8m series A round in 2019, with participation from pharmaceutical firm Celgene and 6 Dimensions Capital, an investment firm co-founded by pharmaceutical and medical device company WuXi AppTec.
NYC Life Sciences Fund, an investment vehicle launched by the city of New York, and Hillhouse Capital also took part in the series A round alongside unspecified institutional, family and private backers.