Arcellx Secures $85 Million Series B Financing to Advance Its Smart Cell Therapy Platform

VCBeat (WeChat ID: vcbeat) learned on October 3, 2019, that private biopharmaceutical company Arcellx announced the completion of an $85 million Series B financing round. The proceeds will be used to advance the company’s ARC-T + sparX program, including the clinical development of a bispecific BCMA-targeted cell therapy for multiple myeloma and a CD123-targeted therapy for acute myeloid leukemia. Additionally, this funding will support the early-stage development of the ARC-T + sparX program for the treatment of solid tumors and diseases beyond oncology.

Participants in this financing round included both existing and new investors in Arcellx. The round was co-led by new investors Aju IB and Quan Capital, followed by Mirae Asset Venture Investment, Mirai Asset Capital, LG Technology Ventures, JVC Investment Partners, and Clough Capital Partners, L.P. Existing investors Novo Holdings, S.R. One Limited, NEA, and Takeda Ventures also participated in the financing. Hugo Beekman, Partner at Aju IB, and Lewis (Rusty) Williams, Venture Partner at Quan Capital, have joined the Board of Directors of Arcellx.

Dr. David Hilbert, President and Chief Executive Officer of Arcellx, stated, “Investor funding and strategic support have enabled Arcellx to accelerate the development of our ARC-T + sparX program for patients in need of treatment. While traditional CAR-T therapies have demonstrated impressive efficacy, their safety and effectiveness are constrained by severe toxicities, high relapse rates, and the challenge of identifying suitable targets in solid tumors. The ARC-T + sparX platform addresses these limitations by placing ARC-T cells under the control of one or more sparX proteins, which uniquely determine how ARC-T cells recognize tumors and the rate at which they eliminate them. In the coming months, we will initiate clinical trials targeting BCMA for the treatment of multiple myeloma.”

Hugo Beekman, Partner at Aju IB, commented: “Arcellx has developed a differentiated cell therapy platform using ARC-T + sparX, enabling simultaneous and sequential targeting of multiple tumor antigens. The ability of the sparX protein to reprogram ARC-T cell specificity has the potential to address the high incidence of tumor recurrence as well as the inherent diversity of tumor antigens expressed within solid tumors.”

Arcellx has pioneered its proprietary sparX + ARC-T platform, in which the soluble protein antigen receptor X-linker (sparX) simultaneously binds to one or more tumor antigens and engages with a universal receptor expressed on antigen receptor complex T cells (ARC-T). Compared with existing cell therapies, this therapeutic platform offers enhanced safety and efficacy.

Arcellx, Inc. is a private biopharmaceutical company based in Montgomery County, Maryland. The Arcellx team is dedicated to delivering superior immune cell therapies to patients through scientific innovation, accelerated development, and responsible patient care. Although the company’s initial clinical focus is on cancer treatment, it remains committed to expanding its Antigen Receptor Complex T-cell (ARC-T) therapy to a broad spectrum of human diseases.

(Compiled by Ning Chen)