Shoreline Biosciences, a US-based oncological immunotherapy developer, raised $140m in a funding round featuring biopharmaceutical companies BeiGene and Gilead yesterday, the latter through immuno-oncology drug subsidiary Kite.
Healthcare-focused investment firm Ally Bridge Group led the round, which included Eventide Asset Management, Irving Investors, Piper Heartland Healthcare Capital, Superstring Capital, Stork Capital, Kingdon Capital and NS Investment.
Cormorant Capital, Commodore Capital, Wedbush Healthcare Partners, Janus Henderson Investors, Boxer Capital and BVF Partners filled out the participants together with an unnamed global investment firm.
Founded in 2020, Shoreline is developing cellular immunotherapies and is building a pipeline of natural killer cell and macrophage-cell therapies through its targeted induced pluripotent stem cell platform to combat tumours. It will use the cash to further develop the platform to create more treatments.
Boxer Capital had previously led a $43m round for the company in April this year, investing alongside Kite, Janus Henderson Investors, Cormorant, Commodore Capital, Wedbush Healthcare Partners, Stork Capital, Logos Capital and unnamed others. It had raised $3m from unnamed investors in July 2020, according to a securities filing.
Kleanthis Xanthopoulos, Shoreline’s chief executive, said: “With this financing and our corporate partnerships, Shoreline has now more than $300m to continue building our pipeline of safe, effective and affordable cellular immunotherapies for both solid tumours and haematologic malignancies.”
