ImmunityBio Secures $320 Million in Financing to Advance Novel Immunotherapies for Cancer and Infectious Diseases

Text | Li Nana

ImmunityBio is a clinical-stage immunotherapy company headquartered in California, USA, dedicated to developing next-generation therapies that harness the mechanisms of immunogenicity for the treatment of cancer and infectious diseases.

On January 2, ImmunityBio announced that Oberland Capital will provide it with up to $320 million in royalty financing and equity investment, of which $210 million in total proceeds is due on December 29, 2023. This additional funding provides the company with significant financial resources to accelerate its commercialization efforts, anticipate regulatory approvals, and expand its product portfolio across a broader range of urologic cancers. The proceeds from this fundraising will also be used to support ongoing business operations and clinical trials, extending the indications of N-803 to various solid tumors.

ImmunityBio, Inc. was founded in 2014. The company’s series of immunotherapy and cell therapy platforms aim to drive and sustain immune responses to create lasting and safe disease protection. The company has a seasoned R&D team with highly complementary and extensive expertise in new scientific fields such as genomics and proteomics, monoclonal antibodies, fusion proteins, vaccines, autologous cell therapies, and allogeneic cell therapies. Their experience spans various companies, ranging from biotech startups to large commercial pharmaceutical enterprises. Currently, the company is applying its technologies and platforms to cancer treatment, including the development of potential cancer vaccines, as well as immunotherapies and cell therapies that may significantly reduce or eliminate the need for standard high-dose chemotherapy. These platforms and their associated candidate products are designed to be more effective, more accessible, and easier to administer than current standards for tumor and infectious disease treatment.

To date, ImmunityBio has conducted 27 clinical trials, 18 of which are in Phase 2 or Phase 3 development stages, covering 13 indications for both liquid and solid tumors. Its proprietary natural killer cell platform can be easily expanded, genetically modified, and cryopreserved, offering multiple modes of cytotoxicity. Additionally, the company has developed a proprietary IL-15 superagonist, Anktiva® (N-803), which selectively activates NK cells and T effector cells without activating regulatory T cells that may suppress the response. Currently, Anktiva (N-803) has received Breakthrough Therapy Designation from the U.S. Food and Drug Administration for the treatment of BCG-unresponsive non-muscle invasive bladder cancer.

Andrew Rubinstein, Managing Partner of Oberland Capital, said, "We are delighted to participate in this investment. I believe that ImmunityBio's launch of Anktiva for the treatment of bladder cancer holds great potential for the future."

Editor | Hai Ruo Jing