BlueSphere Bio, a US-based immunotherapy developer backed by healthcare provider UPMC, attracted $45.6m in series B funding last month, the Pittsburgh Business Times has reported, citing a regulatory filing.
The company is targeting a $105m close and will use the capital to further develop its immunotherapy platform, TCXpress, which is aimed at diseases such as cancer. Its lead asset aims to boost patient outcomes in bone marrow transplants.
TCXpress is based on technology developed by chief scientific officer and co-founder Mark Shlomchik, chair and UPMC endowed and distinguished professor in University of Pittsburgh (Pitt)’s Department of Immunology.
Mark Shlomchik co-founded the company with Warren Shlomchik, a professor of medicine, haematology-oncology and immunology in the same department.
BlueSphere Bio was established in 2017 through the Immune Transplant and Therapy Center, an initiative between Pitt and affiliate care provider UPMC, the latter of which has made a $200m commitment to the centre through commercialisation arm UPMC Enterprises.
UPMC Enterprises also supplied $10m in series A financing for BlueSphere Bio in 2018.
The original version of this article appeared on our sister site, Global University Venturing.