Achilles raises £100 million in Series B financingPublished: September 3, 2019
Achilles Therapeutics, an UK-based biopharmaceutical company developing personalized immunotherapies for cancer has raised £100 million in Series B financing.
Achilles will use the funds to begin two human proof-of-concept studies using its personalized T cell immunotherapy to treat non-small cell lung cancer and melanoma. The trials are expected to begin this year. The financing will also support the company to build its manufacturing capabilities and extend its growing product pipeline.
The company has thus far raised approximately £114 million, including a £13.2 million in Series A financing in 2016.
Achilles is developing T cell therapies targeting clonal neoantigens that are specific to each individual’s cancer cells. These unique protein markers are expressed on the surface of every cancer cell, but not on healthy cells. Using DNA sequencing data together with bioinformatics technology, the company identifies clonal neoantigens specific to each patient and develops personalized T cell immunotherapy. Because the therapy targets only cancer cells, the treatment is believed to leave the healthy tissues intact.
Achilles Therapeutics was launched in 2016 by Syncona Ltd, the lead investor and the CRT Pioneer Fund, UCL Technology Fund, Cancer Research Technology, UCL Business and the Francis Crick Institute.
The finance round was led by Syncona along with RA Capital Management and new investors including Forbion, Invus, Perceptive Advisors and Redmile Group.
Source: ACHILLES THERAPEUTICS RAISES £100 MILLION IN OVERSUBSCRIBED SERIES B FINANCING; Press Release