ArsenalBio Secures $325M Series C Funding with Nvidia, Regeneron Support

ArsenalBio, a biotech firm specializing in cell therapy, has successfully secured $325 million in a Series C funding round. This round saw participation from several new investors such as ARCH Venture Partners, Regeneron Ventures, and NVentures, the venture capital arm of Nvidia. Additional new investors include Milky Way Investments Group, Luma Group, and funds advised by T. Rowe Price Associates, among others. Returning investors in this round featured the Parker Institute for Cancer Immunotherapy, SoftBank Vision Fund 2, Bristol Myers Squibb (BMS), Westlake Village BioPartners, Kleiner Perkins, Byers Capital, and Hitachi Ventures.

The capital infusion will be directed towards advancing ArsenalBio’s pipeline of solid tumor cell therapy candidates. These candidates leverage the company's proprietary T cell technology. The funds will also be used to enhance ArsenalBio’s capabilities in discovering new cell therapies and to scale up manufacturing processes.

Ken Drazan, CEO of ArsenalBio, emphasized the potential of their T cell engineering approach, citing promising results from initial clinical trials and preclinical studies. “This new investment will enable us to continue our development roadmap, scale up our manufacturing capabilities, and invest in new avenues for innovation in T cell medicine,” Drazan stated.

ArsenalBio’s development pipeline includes therapies targeting ovarian, kidney, and prostate cancers. In collaboration with BMS, the company is also working on treatments for other solid tumors. In April, ArsenalBio announced that initial patients had been dosed in a Phase I/II trial of AB-2100, aimed at treating clear-cell renal cell carcinoma (ccRCC). The company aims to distinguish its candidate in the competitive kidney disease market by addressing unmet needs within this indication.

Another lead candidate in ArsenalBio’s portfolio is AB-1015, which is currently in Phase I development for ovarian cancer. The company also has an ongoing collaboration with Genentech, which was announced in September 2022 with an upfront and milestone payment totaling $70 million. Detailed aspects of this collaboration remain undisclosed.

The partnership with BMS, established in January 2022, did not have its financial terms revealed. In September 2022, ArsenalBio previously raised $220 million in a Series B funding round, which was earmarked for initiating clinical trials for AB-1015. 

With the new funding, ArsenalBio aims to continue pushing the boundaries of T cell medicine by expanding its capabilities and exploring new therapeutic avenues. The significant financial support reflects confidence in the company's innovative approach and its potential impact on cancer treatment.

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