US-based cancer therapy developer Affini-T Therapeutics closed an oversubscribed $175m round yesterday co-led by Leaps by Bayer, a subsidiary of pharmaceutical and chemicals group Bayer.
Life sciences-focused investment firm Vida Ventures co-led the round, which included Alexandria Venture Investments, a vehicle for life sciences and property investment trust Alexandria Real Estate Equities.
Humboldt Fund, The Parker Institute for Cancer Immunotherapy, Catalio Capital Management, Agent Capital, Erasca Ventures, Fred Hutchinson Cancer Research Center and unnamed others filled out the participants in the round.
Co-founded by Vida Ventures with entrepreneurs and researchers at oncology investigation institute Fred Hutchinson Cancer Research Center, Affini-T is developing T cell-driven therapeutics targeting solid tumours.
The technology leverages synthetic biology the company claims can work against cancer mutations including those caused by Kirsten rat sarcoma virus – more commonly known as Kras.
Affini-T will use the money to begin clinical operations and acquire additional technology licences for its discovery platform in a bid to discover and target cancer driver genes. It has also increased its presence across its home country having added research labs in Seattle, Washington to a head office and production hub in Boston, Massachusetts.
Juergen Eckhardt, head of Leaps by Bayer, said: “Curing and preventing cancer is one of the core focus areas of Leaps by Bayer, as this disease still represents one of today’s most pressing health concerns.
“This is especially true for some difficult-to-treat solid tumours such as pancreatic, lung or colorectal cancer. Addressing Kras represents a unique opportunity in the development of therapies that promise to address previously untreatable and incurable cancers and we are very excited about the potential of Affini-T’s technology platform.”
Image courtesy of Affini-T Therapeutics Inc.
