Canada-based cancer-focused cell therapy developer Notch Therapeutics raised $85m yesterday in a series A round backed by cancer treatment developer Allogene Therapeutics.
An unnamed investment fund led the round, which included venture capital firms Lumira Ventures, EcoR1 Capital, Casdin Capital, Samsara BioCapital, Amplitude Ventures and an undisclosed investment firm.
The round also featured CCRM Enterprises Holdings, an affiliate of Centre for Commercialization of Regenerative Medicine – itself the commercialisation partner of Ontario Institute for Regenerative Medicine and University of Toronto’s Medicine by Design.
Founded in 2018, Notch is working on cellular immunotherapies derived from pluripotent stem cells. Its technology is based on research at University of Toronto and Sunnybrook Research Institute.
The company formed a partnership with Allogene in November 2019 focusing on haematologic cancer indications, through which Allogene took a 25% stake. The funding will allow it to further develop its portfolio and platform, as well as to expand its team and establish a presence in the United States.
David Chang, president, chief executive and co-founder of Allogene, and a member of Notch’s board of directors, said: “We have great confidence in Notch’s high-calibre management team and the rigorous science underlying its research programmes.
“We are impressed by the company’s innovation and accomplishments and pleased to continue our support of Notch as the company advances the development of a new generation of cell therapies for cancer and other immune disorders.”
Notch did not disclose further funding details but did identify Lumira Ventures and CCRM as existing shareholders.
