University of Cambridge spinout T-Therapeutics has raised a further £24 million, extending its Series A round to £70m.
The funding is set to accelerate the development of the company’s next-generation T cell receptor (TCR) therapeutics for cancer and autoimmune diseases.
It includes new backing from BGF and Tencent, with existing major shareholders Sofinnova Partners, F-Prime Capital, Digitalis Ventures, Cambridge Innovation Capital, Sanofi Ventures and the University of Cambridge Venture Fund also continuing their support.
Founded in 2022 and recognised as a leading innovator in immune-based drug discovery, the MedTech is developing drugs capable of reaching targets long considered out of reach.
The company is led by CEO Theodora Harold, an experienced life sciences executive, and was founded by professor Allan Bradley, who transitioned to chief scientific officer this year.
T-Therapeutics is advancing two main drug development programmes using its proprietary TCR-CD3 bispecific technology.
Its lead cancer programme targets a key gene present in many solid tumours, while its immunology programme aims to eliminate harmful immune cells and rebalance the immune system to deliver long-lasting disease control.
“We are delighted to have significantly added to our Series A financing, which we see as a strong validation of both our technology and our progress to date,” said Harold.
“I would like to thank Tencent and BGF for their belief in our potential, as well as all our existing investors for their continued support.”
BGF CEO, Andy Gregory, added: “Backing T-Therapeutics underlines BGF’s determination to help create a more diverse entrepreneurial economy.
“T-Therapeutics is built on scientific excellence and ambition to deliver transformative treatments for patients worldwide – an example of the kind of innovation we want to help flourish in the UK.”