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Adaptate Biotherapeutics has raised a further $18 million in equity investment during a Series A2 funding round.
Adaptate Biotherapeutics, developer of antibody-based therapeutics for modulation of gamma delta T-cells, has raised a further $18 million in equity investment during a Series A2 funding round. The fundraising was announced in an April 19, 2021 press release.
With the latest investment, the company has raised a total of $34 million since its inception in 2019. The new funds will be used to accelerate the progression of the company’s lead therapeutic antibody program to the clinic and to expand the internal product pipeline. Additionally, the funds will be used to expand the company, including further recruitment and increased laboratory and office space.
“The funding is a great vote of confidence from our existing investors and testimony to the hard work and rapid progress we have made in the novel field of gamma delta T cell targeting antibodies,” said Natalie Mount, CEO of Adaptate Biotherapeutics, in the press release. “We are excited to continue this growth path and to progress our unique therapeutic antibodies towards clinical trials where we look forward to them making an impact on the treatments available to cancer patients.”
Tim Haines, chairman and managing partner, Abingworth—an existing investor—added, in the press release, “We have been impressed with the potential of Adaptate’s therapeutic antibody technology and the significant progress to date. We are delighted to invest further, to enable the team to accelerate its very promising portfolio towards the clinic.”
“Takeda’s ongoing investment in Adaptate aligns closely with our pursuit of potentially life-changing treatments for cancer patients through novel immuno-oncology approaches,” commented Loic Vincent, head, Oncology Drug Discovery Unit, Takeda, in the press release. “We look forward to continuing to work together on the potential of gamma delta T cell targeted therapies to achieve this goal.”