US-based immuno-oncology product developer Immunexcite closed an $8.6m series A-1 round yesterday that included corporate venturing units Sanofi-Genzyme BioVentures and Partners Innovation Fund.
The funds, which invest on behalf of pharmaceutical company Sanofi and healthcare provider Partners HealthCare respectively, were joined in the round by hedge fund sponsor Cormorant Asset Management.
Immunexcite is developing cancer treatments based on its Mabxcite immunotherapy platform, and the financing will support the completion of studies it is conducting to determine a program that will be advanced into clinical testing.
Founded in 2007, Immunexcite raised $2.5m in equity funding from 36 investors in 2012, according to a regulatory filing, and $3.6m in 2014. The company had raised another $5.8m as of December 2015 but has not stated whether it represents part of the A-1 round.
Ann DeWitt, senior director of investments and principal for Sanofi-Genzyme BioVentures, will join the company’s board of directors in conjunction with the financing.