ImmPACT Bio Grabs $18M Series A Financing Round
Aug 20, 2020
ImmPACT Bio USA, a company founded in the FutuRx incubator located in Ness Ziona, Israel, developing novel cell therapies for treating cancer, today announced the closing of a US$ 18 million equity financing round. The financing included OrbiMed, Johnson & Johnson Innovation - JJDC, Inc., Takeda Ventures, Inc., RM Global Partners (RMGP) BioPharma Investment Fund, Novartis Venture Fund, Bukwang Pharmaceutical, Hayan Health Networks, Inc., and JVC Investment Partners. ImmPACT Bio USA Inc. is developing a novel set of engineered T-cell therapeutics that target loss of genes in solid tumors. The company was founded based on the insights of Prof. Gideon Gross (Migal Research Institute), who collaborated with Prof. Zelig Eshhar to design the first Chimeric Antigen Receptor technologies for T-cells (CAR T). While CAR-T drugs have provided meaningful breakthroughs for the treatment of some hematologic malignancies, little progress has been made in applying the technology to solid tumors. Such diseases are rarely characterized by the over-expression of tumor-selective antigens, but genomic analyses have revealed many mechanisms for loss of expression. Founder Prof. Gideon Gross explains ImmPACT's origins by observing, "Engineered cells have progressed tremendously in lymphomas and leukemias, in large part because lymphocytes have very selective targets. We will need new targeting strategies to tackle solid tumors, as few selective targets have been discovered, and antigens are almost always shared by indispensable tissues." Prof. Gross ultimately realized that, "Many solid tumors demonstrate genetic losses due to abnormal chromosomal maintenance - a fact that can be utilized to design new types of cellular immuno-oncology drugs." "We have built a world-class team and a promising pipeline to realize Prof. Gross' vision of targeting loss-of-gene features of solid tumors. We look forward to working with our investors to advance this pipeline and make the company a success," said Rick Kendall, Ph.D., CEO of ImmPACT Bio USA Inc.
About ImmPACT Bio
ImmPACT Bio USA Inc. is a cell therapy company aiming to develop potent and selective engineered T-cells for the treatment of solid tumors. The company was founded based on the research of Prof. Gideon Gross of the Migal Research Institute and has been incubated in the FutuRx incubator since 2017. The Company's technology enables targeting loss-of-gene features of solid tumor cells, sparing normal, healthy tissues. (c)2011-2020 by Massinvestor, Inc. For contact info, please check out our about page.