ImCheck Raises $53 Million Series B
ImCheck Therapeutics, a biotech company developing a first-in-class antibody to activate gamma delta (γδ)T cells in a range of cancer indications and a portfolio of novel immunotherapies for the treatment of cancer and autoimmune diseases, announced the closing of a $53 million (€48 million) Series B financing round. The round was co-led by Pfizer Ventures, the venture capital arm of Pfizer Inc., and Bpifrance through its InnoBio 2 and Large Venture funds and joined by new investors Wellington Partners, Agent Capital and Alexandria Venture Investments. Life Sciences Partners (LSP), Gimv, Idinvest Partners, Kurma Partners and Boehringer Ingelheim Venture Fund that contributed to the 2017 €20 Million Series A round also participated for a significant portion of this raise. The proceeds of the Series B will be used to fund the initial clinical trial for ImCheck’s first-in-class monoclonal antibody ICT01, to further expand the company’s broad pipeline of immunomodulators targeting the butyrophilins super-family and to bring additional immuno-oncology antibody programs into the clinic.
“ImCheck’s first clinical trial starting next year with ICT01 is based on comprehensive translational research supporting its potential to activate gd T cells to kill malignant cells. The Series B funding, bringing the total capital raised in 2.5 years to nearly $80 million, allows us to accelerate the development of our unique immuno-oncology pipeline, further investigate the potential of our antibodies in autoimmune disease, and establish clinical operations and corporate development activities in the US,” said Pierre d’Epenoux, Chief Executive Officer at ImCheck Therapeutics.
ImCheck’s Board of Directors will transition to include Michael Baran from Pfizer Ventures, Thibaut Roulon from Bpifrance, Regina Hodits from Wellington, Rémi Droller from Kurma, Vincent Brichard from LSP, Bram Vanparys from Gimv, Debasish Roychowdhury as independent Chairman and Pierre d’Epenoux, CEO of ImCheck.
“We believe that furthering the understanding of γδ T cell activation could provide the basis for an area of research that could have tremendous potential for treating patients with certain cancers and autoimmune diseases, and we are pleased to be co-leaders in this financing round,” commented Michael Baran, PhD, MBA, Principal, Pfizer Ventures and Executive Director, External Science & Innovation, Pfizer.
“ImCheck has produced a pipeline of first-in-class immuno-modulatory antibodies targeting γδ T cells and built a world-class drug development organization with a significant potential to expand the current immune-modulatory arsenal against cancer,”addedThibaut Roulon, PhD, Investment Director at Bpifrance.
“We are very pleased to add these top tier institutional and strategic investors from both the US and EU in the closing of our Series B financing," commented Debasish Roychowdhury, MD, Chairman of ImCheck Board of Directors. "We believe this investment represents a strong validation of our pipeline and its potential both in cancer and autoimmune diseases.”
Other news from the department business & finance
Most read news
More news from our other portals
Something is happening in the life science industry ...
This is what true pioneering spirit looks like: Plenty of innovative start-ups are bringing fresh ideas, lifeblood and entrepreneurial spirit to change tomorrow's world for the better. Immerse yourself in the world of these young companies and take the opportunity to get in touch with the founders.