Adicet Bio Secures $80 Million Series B Financing to Advance Allogeneic Gamma Delta T Cell Therapies for Cancer

VCBeat (WeChat ID: vcbeat) has learned that biotechnology company Adicet Bio recently announced the completion of an $80 million Series B financing round.

New investors in this funding round include aMoon2 Fund, Regeneron Pharmaceuticals, Inc., Johnson & Johnson Innovation - JJDC, Inc. (JJDC), OCI Enterprises, Inc., KB Investment Co., Consensus Business Group, SBI JI Innovation Fund, Samsung Venture Investment Corporation, Handok, Inc., and DSC Investment, Inc. Meanwhile, all existing investors, including OrbiMed, Novartis Venture Fund, and Pontifax, also participated in this financing.

Upon the closing of this financing round, aMoon2 Fund and JJDC will join the Board of Directors of Adicet Bio. Representing aMoon2 Fund is its Co-Founder and Managing Partner, Yair Schindel, M.D. Investment bank and strategic advisory firm RM Global Partners LLC served as the financial advisor to Adicet Bio for its Series B financing.

It is reported that Adicet Bio is dedicated to developing allogeneic cell therapies for cancer using innovative gamma-delta T cells.

Dr. Anil Singhal, President and Chief Executive Officer of Adicet Bio, stated, “Gamma-delta T cells represent a promising emerging approach to cancer therapy. This funding will enable Adicet Bio to continue developing our proprietary technology, advance into clinical trials for non-Hodgkin lymphoma, and further our solid tumor programs. We are pleased with the support from leading investors in the field.”

Adicet Bio, Inc. is a privately held, preclinical-stage biotechnology company dedicated to developing novel universal immunotherapies based on chimeric antigen receptor (CAR)-engineered gamma-delta T cells. Additionally, Adicet Bio focuses on identifying and validating cancer-specific targets within the intracellular proteome, subsequently generating T-cell receptor-like monoclonal antibodies (TCRLs) that target cancer-specific peptides presented by MHC class I complexes. These TCRLs are employed to arm T cells or serve as T-cell engagers in solid tumors. In August 2016, Adicet entered into a strategic collaboration with Regeneron Pharmaceuticals, Inc., leveraging Adicet Bio’s allogeneic gamma-delta T cell platform technology to develop next-generation immunotherapies.

Johnson & Johnson Innovation (J&J Innovation), a subsidiary of Johnson & Johnson, focuses on providing early-stage research funding, seed capital, and equity investment services to enterprises, with the aim of identifying companies that align with its strategic priorities in pharmaceuticals, consumer health, and medical devices.

(Compiled by Ning Chen)