ArsenalBio raises $325m for cell therapy development

ArsenalBio, a leading company in programmable cell therapy, has successfully completed an oversubscribed Series C financing round by raising $325 million. This significant capital injection is set to propel the company's cell therapy programs through various stages of clinical development.

The freshly secured funds will primarily be utilized to advance ArsenalBio’s primary therapy programs and foster innovation within cell therapy tools and methodologies. The financing round saw participation from a mix of new and existing investors. Among the new contributors were ARCH Venture Partners, Luma Group, Milky Way Investments Group, NVentures, and Regeneron Ventures. Existing investors such as Bristol-Myers Squibb, Byers Capital, Hitachi Ventures, Kleiner Perkins, the Parker Institute for Cancer Immunotherapy, SoftBank Vision Fund 2, and Westlake Village BioPartners also played a role in the funding round.

A significant portion of the investment will be channeled into the development of ArsenalBio’s T-cell engineering technology, which encompasses logic gating, and the expansion of its pipeline of therapeutic candidates aimed at treating solid tumors. ArsenalBio is actively developing potential therapies targeting ovarian, kidney, and prostate cancers, among other solid tumors.

The collaboration with Bristol-Myers Squibb is a critical component of this developmental journey, with both companies working together on co-developing key assets. Notably, ArsenalBio has recently initiated a Phase I/II clinical trial for its second T-cell product candidate, AB-2100, which is aimed at treating clear-cell renal cell carcinoma. This product had previously been granted fast track designation by the US Food and Drug Administration (FDA), underscoring its potential and the urgency of its development.

Ken Drazan, the co-founder, CEO, and chairman of ArsenalBio, expressed optimism about the company's trajectory. He highlighted that the initial clinical trials and preclinical studies have demonstrated the promising potential of their T-cell engineering approach. This success has bolstered confidence in expanding the application of their technology to address a wider range of cancer types. The new investment, Drazan noted, will enable the company to continue its development roadmap, scale up manufacturing capabilities, and invest in new innovations in T-cell medicine.

ArsenalBio’s ongoing efforts are aimed at detecting new candidate cell therapies, which could revolutionize the treatment landscape for various cancers. The company's advancements in T-cell products are a testament to its commitment to pioneering new frontiers in cell and gene therapy, offering hope for more effective treatments for cancer patients.

By leveraging this significant funding, ArsenalBio aims to push the boundaries of what is possible in programmable cell therapy, ultimately striving to bring new, effective treatment options to patients battling solid tumors. The infusion of capital and the confidence of both new and existing investors underscore the potential impact of ArsenalBio’s innovative approaches in the realm of cancer treatment.

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