Biotechnology firm Inceptor Bio has raised $37m from Series A funding round that was led by Kineticos Ventures.
Proceeds from the financing round will be used by the company to advance Inceptor Bio’s CAR-T lead programme to a Phase I clinical trial as well as continue development of its CAR-M and CAR-NK platforms.
Furthermore, proceeds will support finishing the company’s Advanced Manufacturing Platform (AMP+) facility.
This facility, located in Gainesville, Florida, will be a 29,000ft2 cell and gene therapy GMP manufacturing site.
The company’s CAR-T, CAR-M, and CAR-NK platforms are at the core of a varied portfolio of cell therapies focused on new mechanisms that improve cell performance in the tumour microenvironment.
The new technologies feature a co-stimulatory domain M83, proprietary TMax manufacturing process, the K62 platform, which boosts the phagocytic capabilities of macrophages and supports a M1 anti-tumor phenotype, and a differentiated iPSC technology.
Inceptor Bio founder and CEO Shailesh Maingi said: “We are grateful for the continued support of Kineticos Ventures and our life sciences investors.
“We have a simple strategy at Inceptor Bio. We’re advancing novel CAR-T, CAR-M and CAR-NK platforms into the clinic, securing our supply through AMP+, and building a leading team of scientists and engineers in order to improve treatment options for patients with difficult-to-cancers.”
Inceptor Bio president and chief operating officer Mike Nicholson said: “This Series A funding allows us to focus on advancing our lead CAR-T program into the clinic while continuing to advance our other exciting cell therapy platforms.
“Our programs address serious challenges in the cell therapy arena, and fully realizing the potential of these therapies requires significant capital. We are grateful for the support of this incredible group of investors.”
Kineticos Ventures president Frank Lis said: “Investing in early life sciences companies with promising pipelines like Inceptor Bio is at the heart of what we do.
“With an expert team and a scalable manufacturing facility, Inceptor Bio is well positioned to advance next-generation cell therapy technologies to address difficult-to-treat cancers.”