IGM Biosciences Secures $102 Million Series C Financing to Advance Its IgM Antibody Platform and Oncology Pipeline

On July 9, 2019, VCBeat (WeChat Official Account: vcbeat) learned that IGM Biosciences announced the completion of a $102 million Series C financing round, which was jointly invested by Janus Henderson Investors, Vivo Capital, and Haldor Topsøe Holding A/S, among others.

IGM Biosciences is a biotechnology company dedicated to developing engineered IGM antibodies for the treatment of cancer patients. IGM antibodies possess robust properties that can improve their efficacy and enhance safety during therapy. Headquartered in California, IGM Biosciences is experiencing rapid growth and currently employs approximately 40 scientists.

IGM Biosciences has developed a proprietary IGM antibody technology platform, which is particularly well-suited for developing T-cell engagers, receptor cross-linking agonists, and targeted cytokines. The bispecific T-cell engager IGM-2323 is IGM Biosciences’ lead candidate, which has demonstrated efficacy in clinical trials for the treatment of patients with relapsed or refractory B-cell non-Hodgkin lymphoma (NHL).

“We are thrilled to have the support of these top-tier investors with a focus on healthcare investments,” said Fred Schwarzer, CEO of IGM Biosciences. “We look forward to working with them to unlock the full potential of the IGM platform and deliver novel therapies for cancer patients.”

It is understood that the proceeds from this financing will be used to advance the technological development of the company’s IGM platform and to build its proprietary oncology drug R&D pipeline, including its lead candidate, a CD20×CD3 bispecific antibody. This antibody is expected to enter clinical trials in the second half of 2019.

Janus Henderson Investors is a global asset management group headquartered in London, UK, dedicated to helping clients achieve their long-term financial goals. The group currently manages £265.3 billion in assets and employs more than 2,000 people worldwide.

Vivo Capital is an investment firm focused on the healthcare sector. Founded in 1996, it manages over $1 billion in investment funds. Leveraging more than a century of combined scientific expertise and operational experience in the medical field, Vivo specializes in making investment decisions for its funds, assisting portfolio companies in formulating corporate strategies, and facilitating strategic alliances. Vivo’s current portfolio comprises more than 80 private and public companies in the biopharmaceutical, specialty pharmaceuticals, and medical device sectors.

Haldor Topsøe Holding A/S is an investment company controlled by Haldor Topsøe, headquartered in Denmark, with a focus on production and investment in the catalyst sector.

(Compiled by Fan Xin)