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The biotech pioneer firm is working to develop and commercialize a new generation of transformative medicines to address unmet needs in cancer, infection, and autoimmune diseases
FREMONT, CA: T-cell receptor biotechnology company Immunocore raised USD 130 million in a Series B private funding round led by General Atlantic, a leading global growth equity firm and a new investor in Immunocore. The round also saw participation from new investors CCB International, JDRF T1D Fund, Rock Springs Capital, Terra Magnum Capital Partners, and WuXi AppTec’s Corporate Venture Fund, along with existing shareholders Eli Lilly and Company and RTW Investments. The Bill & Melinda Gates Foundation also participated in the financing round by converting its outstanding loan notes. The biotech pioneer firm is working to develop and commercialize a new generation of transformative medicines to address unmet needs in cancer, infection, and autoimmune diseases. The new funding round will be used towards the expansion of its novel scientific platform and advance a proprietary pipeline of ImmTAX molecules into the clinic.
[vendor_logo_first]“We are extremely pleased that General Atlantic is leading our Series B round and welcome them, along with our new investors, to Immunocore. This new funding – from an international cadre of health care investors joined by some of our existing shareholders – represents a further endorsement of our unique and powerful platform technology, our novel class of TCR-based biologic therapies, the accomplished scientists at Immunocore and our mission to transform the lives of people with serious diseases,” said Bahija Jallal, Chief Executive Officer and Director of Immunocore.
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The funds from the Series B round of financing will help the company to advance two wholly-owned clinical-stage internal programs for chronic Hepatitis B and for PRAME, a target expressed in a wide range of tumors. The funding is also expected to accelerate Immunocore’s novel platform to treat autoimmunity, including type one diabetes, advance the TCR platform, and expand its database of rich and novel targets.
"We are pleased to partner with Immunocore at this key time in its development, with lead candidate Tebentafusp on the cusp of commercialization and two further assets in the clinic. We are excited by the broad applicability of the science within the Company's ImmTAX platform and the Company's promising pipeline across oncology, infectious, and autoimmune diseases. We look forward to providing impactful support to Immunocore as it continues on its strong growth trajectory,” said Rob Perez, Operating Partner, General Atlantic.
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