US-based immunotherapy developer Gritstone Oncology closed a $92.7m series B round yesterday led by Lilly Asia Ventures, the regional corporate venturing subsidiary of pharmaceutical firm Eli Lilly.
GV, the early-stage investment arm of diversified conglomerate Alphabet, Trinitas Capital, Alexandria Venture Investments, Versant Ventures, Column Group, Clarus Funds and Frazier Healthcare Partners also participated in the round.
Founded in 2015, Gritstone Oncology is developing personalised cancer immunotherapies.
The money will help Gritstone advance its platform and pipeline, with its lead program expected to enter clinical trials in mid-2018, initially focusing on non-small cell lung cancer and gastric cancer.
The company will also use the money to complete its industrialised manufacturing facility.
In 2015, Gritstone obtained $102m in series A funding co-led by Versant Ventures and Column Group, with Clarus, Frazier, Redmile Group, Casdin Capital and Transformational Healthcare Opportunity also participating.
Anthony Philippakis, venture partner at GV, said: “Gritstone is creating a new class of cancer immunotherapies that is revolutionary in its scope and ambition.
“The company has made meaningful progress applying sophisticated deep learning technologies to create cancer therapeutics that are personalized for each patient.
“We are looking forward to working with Gritstone’s experienced team as they continue to make significant steps towards developing a new class of cancer immunotherapies.”