Netherland-based cancer immunotherapy developer Gadeta closed a €7m ($7.9) series A round yesterday co-led by Baxalta Ventures, the corporate venturing unit of pharmaceutical company Baxalta, and venture capital firm Medicxi Ventures.
Company founders and management also participated in the round, as did Utrecht Holdings, the knowledge transfer office of Utrecht University and University Medical Center Utrecht.
Founded in 2015, Gadeta is working on cancer immunotherapies based on a technology platform that creates optimised gamma delta T-cell receptors with enhanced anti-cancer reactivity. It expects to initiate a phase I/IIa clinical trial for its lead program in acute myeloid leukaemia early next year.
Mark de Boer, co-founder and acting CEO of Gadeta, said: “Supported by the Series A financing, we are excited to accelerate our programs and rapidly advance them to the clinic.
“With its unique ability to target the metabolic changes in tumour cells, the strong therapeutic potential of our platform holds tremendous promise for the treatment of haematological and solid tumours.”
De Boer, co-founder Juergen Kuball, Utrecht Holdings and Medicxi had previously supplied an undisclosed amount of seed funding for Gadeta.