Tmunity Therapeutics Secures $75 Million Series B Financing to Advance Next-Generation T Cell Therapies for Cancer

On October 31, 2019, VCBeat (WeChat ID: vcbeat) learned via Business Wire that biotechnology company Tmunity Therapeutics (Tmunity) announced the completion of a $75 million Series B financing round. The round was led by Andreessen Horowitz, with participation from Westlake BioPartners, Gilead Sciences, the University of Pennsylvania (UPenn), Be The Match BioTherapies, and BrightEdge Fund.

It is reported that Tmunity will use the funds from this financing round to develop next-generation T-cell therapies and advance clinical research programs for innovative drugs aimed at treating complex diseases such as solid tumors. Upon completion of this financing, Jorge Conde, a general partner at Andreessen Horowitz, will join Tmunity’s board of directors. Conde primarily manages Andreessen Horowitz’s investments in the fields of biology, computer science, and engineering.

Since its inception, Tmunity has completed five rounds of financing, raising a total of $231 million. Among these, the company closed a $100 million Series A round in January 2018 and a $34 million Series A+ round in April 2018.

Tmunity, founded in 2015 and headquartered in Pennsylvania, USA, is a clinical-stage biotechnology company. The company is dedicated to developing next-generation T-cell immunotherapies to provide new treatment options for patients with serious diseases. Tmunity collaborates with the basic research institutes at the University of Pennsylvania to leverage pioneering scientific technologies in delivering new products to the clinical and pharmaceutical industries.

Tmunity is dedicated to developing a diversified product portfolio that treats hard-to-cure diseases, such as cancer, by controlling T-cell activation and in vivo trafficking. Currently, the company has three drug development programs in clinical stages. Tmunity has established laboratories and cGMP manufacturing facilities in Pennsylvania to optimize processes, scale up production, and support the clinical development of T-cell therapies.

Dr. Oz Azam, President and Chief Executive Officer of Tmunity, stated, “We are fortunate to have the support of numerous investors who will help Tmunity continue to grow. Our vision is to combine cells with therapeutic potential and clinical expertise to revolutionize the way cancer is treated.”

Jorge Conde stated, “To overcome cancer, we need more advanced drugs and therapies. Tmunity’s T-cell therapy represents a major breakthrough in the field of cancer treatment. Oz Azam and his team have established a pioneering drug discovery platform and brought T-cell therapy to market.”

Andreessen Horowitz, founded in 2009 and headquartered in Silicon Valley, United States, is a venture capital firm. The company primarily provides funding to the social media and software technology sectors, with assets under management exceeding $2.7 billion.

Westlake BioPartners, founded in 2018 and headquartered in California, USA, is a venture capital firm dedicated to advancing the life sciences industry.

Gilead Sciences, established in 1987 and headquartered in California, USA, is a leading biotechnology and pharmaceutical company. The company primarily focuses on the therapeutic areas of cardiovascular and respiratory diseases, engaging in the development and commercialization of innovative therapies.

The University of Pennsylvania, founded in 1740, is a private university located in Philadelphia, Pennsylvania. As an Ivy League institution, it has cultivated numerous talents for various industries.

Be The Match BioTherapies, established in 2016 and headquartered in Minnesota, USA, is a non-profit investment organization in the field of biotechnology.

Headquartered in Georgia, USA, the BrightEdge Fund is a charitable venture capital fund affiliated with the American Cancer Society (ACS), primarily dedicated to helping pharmaceutical companies develop novel therapies and technologies for cancer treatment.

(Compiled by Xu Xiaoxue)