Nohla Therapeutics bags $56 million in Series B financing to fund cell therapy platform

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Nohla Therapuetics, a Seattle based developer of universal, off-the-shelf cell therapies for patients with hematologic malignancies and other critical diseases, have announced that an additional $11 million has been raised after the second closing of its Series B financing, bringing the total raised to $56 million. The funding will support the ongoing clinical development of dilanubicel, the company’s lead cell therapy product.

The investors who participated in the second closing include the University of Tokyo Edge Capital, Schroder Adveq and Premier Partners, joining the initial Series B investors made up of Fidelity Management and Research Company, Celgene Corporation, ARCH Venture Partners, 5AM Ventures, Alexandria Venture Investments and AML Biotech Partners.

The additional funding will financially support Nohla’s ongoing clinical development of dilanubicel, a universal, off-the-shelf stem and progenitor cell therapy designed to provide patients with short-term bone marrow function, while also providing long term immunologic benefits with the potential for improved survival. Unlike autologous or patient-specific allogeneic cell therapies, dilanubicel does not require Human Leukocyte Antigen (HLA) tissue matching. Last month, Nohla received Priority Medicine (PRIME) status for Haematological malignancies in the European Union for the product. Dilanubicel is currently under evaluation in two ongoing Phase II trials for patients with hematologic malignancies undergoing an allogeneic transplant, and acute myeloid leukemia (AML) patients with chemotherapy-induced myelosuppression following high-dose chemotherapy. Results from the study will be published later this year.

Katie Fanning, President and CEO of Nohla Therapeutics commented “We have achieved a number of significant milestones in the first half of 2018 including further advancement of our lead product, dilanubicel. This additional funding will support our ongoing clinical development of dilanubicel in allogeneic transplant and acute myeloid leukemia, as well as support the advancement of discovery programs from our platform.”

Source: Nohla Therapeutics Announces Second Closing of $56 Million Series B Financing Press Release