US-based oncology-focused biotechnology developer IGM Biosciences received $102m in series C funding on Monday from investors including catalysis company Haldor Topsøe.
Redmile Group, Janus Henderson Investors, Vivo Capital and an unnamed US-based healthcare-focused fund also contributed funding.
Founded in 2010, IGM Biosciences is working on a treatment for cancer that relies on engineered immunoglobin M (IgM) antibodies – a type of antibody produced by the human body that is the first to appear following the exposure to an antigen.
The financing will go towards the further development of IGM Biosciences’ platform and pipeline, including a lead asset set to enter clinical trials later this year.
IGM Biosciences does not appear to have disclosed details about earlier funding rounds, revealing only that Haldor Topsøe has backed the company since its founding.
Fred Schwarzer, chief executive of IGM Biosciences, said: “We are very pleased to have the support of these sophisticated healthcare-focused investors. We look forward to working with them to realise the potential of our IgM platform to deliver new therapeutic treatments to patients with cancer.”
