Pan Cancer T, a US biotech firm specialising in next-generation T cell therapies for solid tumours, has announced the successful closure of a €4.25m ($4.62m) seed extension round.
The funding will facilitate the completion of preclinical studies for its leading product, PCT1:CO-STIM, and further the development of its pipeline projects targeting colorectal and ovarian cancers.
The seed extension round was bolstered by a new investor, InnovationQuarter, alongside continued support from existing investors Van Herk Ventures, Thuja Capital, Swanbridge Capital and Erasmus MC O&O Holdings.
The total funding for Pan Cancer T now stands at €11m.
Nina Satih, investment manager at InnovationQuarter, will join its supervisory board as an observer.
The investment will enable Pan Cancer T to advance its lead TCR [T cell receptor engineered]-T cell product, PCT1:CO-STIM, through critical preclinical studies and CMC [chemistry, manufacturing and controls] activities.
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The funding will also aid the progression of earlier-stage pipeline projects and the development of a second next-generation engineering approach.
Pan Cancer T CEO Rachel Abbott stated: “We are delighted to have closed this financing round with the support of InnovationQuarter and our existing investors.
“This enables us to advance our lead product toward the clinic, offering new hope for patients with triple-negative breast cancer. It also provides a firm foundation to secure a Series A round within the coming year and seek business development partnerships with Biotech and Pharma collaborators to further develop our assets, including our TCR:CO-STIM platform that is applicable to other TCRs and tumour indications.”
InnovationQuarter senior investment manager Kees Recourt stated: “InnovationQuarter is proud to invest in Pan Cancer T, contributing to the development of state-of-the-art cell therapies to combat hard-to-treat cancers.
“This investment not only supports the company but also strengthens the entrepreneurial Life Sciences and Health cluster in the province of Zuid-Holland”.
PCT1:CO-STIM features an IP [intellectual property]-protected T cell receptor, generated using Pan Cancer T’s validated discovery platform that is highly specific for ROPN1, a novel tumour-restricted target strongly expressed in more than 90% of patients with triple-negative breast cancer and melanoma.
The candidate also incorporates a proprietary tumour microenvironment [TME] solution, designed to provide co-stimulation to T cells even in a hostile TME, which has demonstrated significantly improved response duration in preclinical models.
