Umoja Biopharma Secures $100M Series C Funding for In Vivo CAR T Pipeline

Umoja Biopharma, Inc., a leader in the clinical development of in vivo cell therapies, has successfully concluded a Series C financing round, raising $100 million. This substantial investment was co-led by Double Point Ventures and DCVC Bio, with significant contributions from a range of both new and ongoing investors. Notable participants in this round include ARK Invest, Cormorant Asset Management, MPM Capital, and Qiming Venture Partners USA, alongside others like SoftBank Vision Fund 2, Myeloma Investment Fund, and the University of Minnesota Endowment.

The funds acquired will be pivotal for advancing Umoja's pipeline of in vivo CAR T cell therapies. Central to these developments is their leading program, UB-VV400, which is poised to enter multiple clinical trials targeting both cancer and autoimmune disorders. The aim of these therapies is to enhance the reach and efficacy of CAR T cell treatments, which are renowned for their potential in battling various serious conditions.

The Series C funding has also brought a new addition to Umoja’s Board of Directors, as Campbell Murray, M.D., a Senior Adviser at Double Point Ventures, joins the team. Dr. Murray expressed his enthusiasm about joining the board, highlighting Umoja’s innovative approach to CAR T cell therapies as groundbreaking. This marks a significant step forward in the treatment of oncology and autoimmune diseases, as the company is positioned to make a substantial impact on patient care. Dr. Murray looks forward to collaborating with Umoja's leadership and investors in furthering these transformative programs.

Umoja's CEO, Andrew Scharenberg, M.D., expressed gratitude for the support from the investor community, emphasizing the potential their innovative therapies hold in revolutionizing the industry. The unique approach of in vivo CAR T cell generation aims to overcome existing treatment barriers and make these therapies more accessible and effective for a broader range of patients.

Additionally, Dr. Phil Low from Purdue University has transitioned into a role as Board Observer and Chair of Umoja’s Scientific Advisory Board. This change underscores the company’s commitment to advancing its scientific and clinical strategies.

Scott Myers, Chairman of Umoja’s Board, remarked on the significance of the Series C fundraising in demonstrating both the progress and the future potential of Umoja’s oncology initiatives, specifically mentioning UB-VV400 and UB-VV111. The ability to generate CAR T cells directly in vivo signifies a new frontier in immunotherapy, promising to alleviate traditional challenges such as long preparation times, supply chain issues, and the adverse effects linked with typical chemotherapy protocols.

Umoja Biopharma continues to be a pioneering force within the biotechnology sector, focusing on developing in vivo cell therapies that cater to unmet needs in oncology and autoimmunity. Their proprietary VivoVec™ gene delivery technology is designed to empower patients’ immune systems to combat diseases more effectively. With its state-of-the-art lentiviral vector development and manufacturing facility located in Louisville, Colorado, Umoja is well-equipped to expand the accessibility and efficacy of cutting-edge immunotherapies, thereby enhancing the quality of life for many patients.