T cell targeting therapies - January 2021

T cell targeting therapies - January 2021

TScan Therapeutics announced $100 million Series C financing managed by BlackRock and RA Capital

25 Jan 2021

TScan Therapeutics – TSC-100 and TSC-101 (TCR-T cell therapy)

  • TScan Therapeutics announced the closing of an oversubscribed $100 million Series C financing. The financing round added new investors including funds and accounts managed by BlackRock, RA Capital Management, and two undisclosed healthcare-focused funds
  • Existing investors including founding investor Longwood Fund, 6 Dimensions Capital, Bessemer Venture Partners, GV, Novartis Venture Fund, and Pitango HealthTech also participated in the round
  • Proceeds from this financing will be used to advance TScan’s TCR-T cell therapy pipeline for solid and liquid tumors into the clinic
  • TScan is advancing a multi-TCR T cell therapy program for solid tumors, with plans to nominate an initial set of three target candidates in 2021 and IND submissions to follow in 2022
  • The Company also signed a strategic partnership with Novartis in 2020 for the discovery of novel oncology targets in a select solid tumor indication
  • TScan expects to complete IND-enabling studies for two of its liquid tumor programs, TSC-100 and TSC-101, and submit INDs for both programs with the FDA in the H2’21

TScan Therapeutics gets the next round of financing which drives the development of its T cell therapies

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CI Scientists Remarks:

  • TScan Therapeutics has raised over $180 M from its investors including Novartis, founding investor Longwood Fund and other and others

    Round

    Investors

    Amount

    Series A

    Undisclosed investor

    $25 M

    Series B

    Bessemer Venture Partners, Novartis Venture Fund GV, Longwood Founders Fund

    $23.3 M

    Series B

    Bessemer Venture Partners, Novartis Venture Fund, Pitango Venture Capital, GV6 Dimensions Capital

    $11.7 M

    Series C

    Bessemer Venture Partners, Novartis Venture Fund, Pitango Venture Capital, BlackRock, Longwood Founders Fund, RA Capital Management, 6 Dimensions Capital

    $100 M

  • In 2020, TScan also signed a strategic partnership with Novartis for the discovery of novel oncology targets in select solid tumor indications
  • Tscan is exploring the use of its novel target discovery technology for both infectious and autoimmune diseases
  • This funding will drive the development of products from TScan’s novel TCR discovery platform
  • Anticipated milestones:
    • Plans to nominate an initial set of three target candidates in 2021 and IND submissions to follow in 2022
    • Expects to complete IND-enabling studies for two liquid tumor programs, TSC-100 and TSC-101, and submit INDs for both programs in the H2’21

– Dr. Kowndinya, CI Scientists

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