March Biosciences Secures $28.4M in Oversubscribed Series A Funding

Mission BioCapital and 4BIO Capital have spearheaded a financing round, securing significant participation from both new and existing investors. To date, the company has amassed over $51 million. The funds will be directed towards the Phase 2 development of March Bio’s leading CD5 CAR-T therapy, MB-105, intended for T-cell lymphoma, along with other pipeline candidates.

March Biosciences, a budding clinical-stage biotechnology firm focused on addressing difficult cancers and diseases, has announced the completion of an oversubscribed Series A financing round, raising $28.4 million. This round was led by Mission BioCapital and 4BIO Capital, and saw contributions from KdT Ventures, Alexandria Venture Investments, Volnay Therapeutics, Modi Ventures, and Mansueto Investments. Existing investors including TMC Venture Fund, Cancer Focus Fund, and Small Ventures also took part.

Originating from the Center for Cell and Gene Therapy (a collaboration between Baylor College of Medicine, Houston Methodist Hospital, and Texas Children’s Hospital), March Bio has swiftly moved forward with its innovative autologous chimeric antigen receptor T-cell (CAR-T) therapy, MB-105. This therapy is designed for the treatment of relapsed and refractory CD5 positive T-cell lymphoma. MB-105 has shown the ability to tackle major issues related to T-cell targeting, particularly by avoiding T-cell fratricide while maintaining strong efficacy against CD5 positive tumor cells. During a Phase 1 clinical trial at Baylor College of Medicine, MB-105 demonstrated a favorable safety profile and durable remissions in patients with relapsed T-cell lymphoma. The company plans to commence a Phase 2 clinical trial in early 2025. The proceeds from the financing will support the advancement of MB-105 through Phase 2 trials, optimizing manufacturing processes along the way.

Sarah Hein, Co-Founder and CEO of March Biosciences, expressed gratitude for the investor support, highlighting the potential impact of MB-105 on T-cell lymphoma treatment. With few treatment options available for this indication, the new funding will enable the company to advance MB-105 and expand its pipeline, furthering its mission to develop best-in-class therapies for challenging cancers.

In conjunction with this financing, March Biosciences announced a collaboration with Volnay Therapeutics, a cell therapy venture studio staffed by seasoned cell therapy development experts. This partnership aims to provide technical oversight and establish a robust and scalable manufacturing process for MB-105 through clinical development and potential commercialization. Stefan Wildt, Co-Founder and CEO of Volnay, who has held leadership roles in cell and gene therapy at both Novartis and Takeda, will join March Bio’s Board of Directors.

Owen Smith of 4BIO Capital and Cassidy Blundell of Mission BioCapital, who are also joining March Bio's Board of Directors, praised March Bio's innovative approach. Smith emphasized the potential of MB-105 to bring new hope to patients with T-cell cancers. Blundell highlighted March Bio's focused approach and promising clinical data, which could lead to significant breakthroughs in the CAR-T therapy field.

The funds raised will also support the ongoing development of other undisclosed pipeline products, as well as general corporate operations.

March Biosciences, based in Houston, was launched from the Center for Cell and Gene Therapy. The company focuses on developing treatments for challenging cancers that do not respond to current immunotherapies. Its lead asset, MB-105, a CD5-targeted CAR-T cell therapy, has shown promising efficacy and safety in Phase 1 trials for patients with refractory T-cell lymphoma and leukemia. A Phase 2 trial is anticipated to begin early next year. To date, the company has raised over $50 million, including support from the Cancer Prevention & Research Institute of Texas and the NIH SBIR program.

4BIO Capital and Mission BioCapital are venture capital firms specializing in investing in advanced therapies and early-stage life sciences companies, respectively. Volnay Therapeutics is a biotech venture builder focused on accelerating the development of innovative cell and gene therapies.