Arsenal Biosciences Files for IPO Following $325M Series C to Advance Solid Tumor CAR-T Therapies

Sep 04, 2024 23:31 CST Updated 23:31

ArsenalBio

Cell Therapy Developer

On September 4, Arsenal Biosciences, which focuses on developing CAR-T cell therapies for solid tumors, announced the completion of a $325 million oversubscribed Series C financing round. New investors participating in this round include ARCH Venture Partners, Regeneron Ventures, NVentures (NVIDIA's venture capital arm), among others, as well as existing investors such as SoftBank Vision Fund 2 and BMS.

This is reportedly one of the largest private biotechnology financings in 2024. The proceeds will be used to advance the development of ArsenalBio's lead programs and identify new candidate cell therapies.

ArsenalBioFounded in 2018, with its headquarters in South San Francisco, California, ArsenalBio Inc. is a clinical-stage programmable cell therapy company focused on developing the next generation of autologous T-cell therapies. The company currently has over 260 employees. In October 2019, ArsenalBio announced an $85 million Series A financing round, and in September 2022, it completed a $220 million Series B financing round.

ArsenalBioDeployed a synthetic biology toolkit to genetically engineer patients' own T cells, designing enhanced CAR-T cell therapies with the potential to eradicate solid tumors. Proprietary T-cell engineering technologies, including logic gating, aim to address T-cell therapy-related issues such as T-cell exhaustion, tumor specificity, and genomic toxicity.

ArsenalBio's robust pipeline includes potential therapies for ovarian cancer, renal cancer, and prostate cancer, as well as treatments for other solid tumors developed in collaboration with BMS. This Series C financing round follows the clinical entry of ArsenalBio’s second T-cell candidate, AB-2100, which has been specifically designed to enhance tumor killing in suppressive microenvironments, extend the durability of cell therapy for prolonged tumor eradication, and reduce T-cell exhaustion. AB-2100 is currently undergoing a Phase I/II clinical trial for clear cell renal cell carcinoma (ccRCC) (NCT06245915) and has received Fast Track designation from the FDA.

"There are many strategies for treating patients with solid tumors, but few can achieve a cure. CAR-T technology offers the opportunity to eliminate entire tumors. This is our mission, and we are working hard towards this goal," said Dr. Ken Drazan, co-founder, CEO, and President of ArsenalBio.

References:

[1]https://arsenalbio.com/2024/09/04/arsenalbio-announces-325-million-financing-to-advance-programmable-cell-therapy-programs-through-clinical-development/

[2]https://www.fiercebiotech.com/biotech/arsenalbio-raises-325m-solid-tumor-car-t-science-regeneron-and-bms-tow

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