Achilles Therapeutics raises £100m in Series B financing
Achilles Therapeutics, a biopharmaceutical company developing personalised cancer immunotherapies, today announces it has closed a £100m Series B financing led by incoming U.S. investor RA Capital Management, corner-stoned by founding investor Syncona and joined by new investors including Forbion, Invus, Perceptive Advisors and Redmile Group.
Proceeds from this financing will deliver two human proof-of-concept studies using a unique personalised T cell therapy approach targeting clonal neoantigens in non-small cell lung cancer and melanoma.
These programmes are expected to enter the clinic this year. In addition, the financing will enable the company to continue building out its manufacturing capabilities as well as broadening its growing solid tumour pre-clinical product pipeline.
Dr Iraj Ali, CEO of Achilles Therapeutics said: “Achilles is leading the next wave of immuno-oncology drug development. We have moved from concept to clinic-ready in less than three years. We are extremely pleased to welcome this excellent group of new investors to Achilles and I would like to personally thank our existing founding investors for their continued support. With this fundraising we have made a clear statement about the scale and nature of our ambitions to bring novel cancer therapies rapidly to patients with a high unmet medical need.”
Martin Murphy, CEO of Syncona Investment Management Limited added: “In 2016, we saw an opportunity to work with world-leading experts to found a company harnessing unique insight into the understanding of cancer evolution, bioinformatics and the development of cell-based immunotherapies to target the treatment of solid tumours. We are delighted with the outcome of this funding round, which is a testament to the Company’s globally differentiated proposition and best-in-class team. We look forward to continuing to support Achilles as it works toward its goal to bring treatments to patients.”