US-based immuno-oncology drug developer TCR2 Therapeutics raised $125m yesterday in a series B round co-led by 6 Dimensions Capital, the investment firm backed by medical research firm WuXi PharmaTech.
The oversubscribed round was co-led with venture capital firm Curative Ventures and also featured Alexandria Venture Investments, the VC arm of life science real estate investment trust Alexandria Real Estate Equities.
MPM Capital, Redmile Group, ArrowMark Partners, Hillhouse Capital, MiraeAsset Financial Group, Syno Capital, Haitong International Securities, Lucion Group, Sirona Capital, F2 Ventures, Cathay Fortune Capital Investment and entities affiliated with Leerink Partners filled out the investor list.
Founded in 2015, TCR2 Therapeutics is working on treatments for solid tumours and blood cancers using T cell receptor (TCR)-based cellular therapies. TCRs are molecules on the surface of T cells, a natural part of the body’s immune system.
The series B capital will enable TCR2 to advance two programs through human proof-of-concept studies and to further expand its platform, TruC.
Wei Li, a founding partner of 6 Dimensions Capital, and Neil Gibson, senior vice-president at biotech firm COI Pharmaceuticals, have joined the company’s board of directors.
MPM and F2 Ventures co-led TCR2’s $44.5m series A round in December 2016, announced when it emerged from stealth. MPM backed the latest round through both its MPM BioVentures 2014 vehicle and UBS Oncology Impact Fund, a $471m initiative it manages on behalf of financial services firm UBS.