Knobbe Martens Venture Client Invests in Biotech Company
In September 2014, Adaptimmune Limited, a leading biotechnology company focused on the use of T-cell therapy to treat cancer and infectious disease, announced the completion of a $104 million Series A financing round.
The oversubscribed round was led by New Enterprise Associates (NEA), and additional new investors participating included OrbiMed Advisors LLC, Wellington Management Company, LLP, Fidelity Biosciences, Foresite Capital Management, Ridgeback Capital Management, Novo A/S, QVT, Rock Springs Capital, venBio Select and Merlin Nexus. Existing investors participating included the University of Oxford and others.
Adaptimmune plans to use the proceeds from the Series A financing to advance the company’s internal programmes into the clinic in multiple cancer indications. Using its unique T-cell receptor (TCR) engineering technology, Adaptimmune has created TCRs which are deployed to target the cancer testis antigen, NY-ESO-1, as well as other targets. In June the company announced that it had entered into a strategic collaboration and licensing agreement with GlaxoSmithKline covering an option on the NY-ESO-1 clinical programme. Adaptimmune is currently running trials across the United States in multiple myeloma, melanoma, sarcoma and ovarian cancer.
The firm has represented NEA since 2007, with Orange County partners Dr. Salima Merani and Dr. Jason Gersting representing NEA on this matter. A full press release can be found at http://www.nea.com/news/press-releases/adaptimmune-secures-104-million-in-series-a-financing.
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