Biotech major, LAVA Therapeutics, has reportedly raised a sum of $83 million in a Series C funding initiative for financing the advancement of its platform and pipeline. While the round was co-led by new investors comprising Sanofi Ventures and Novo Ventures, it also included additional investors comprising BB Pureos Bioventures, Redmile Group LLC, and Ysios Capital.
Sources cite that the company’s existing investors including MRL Ventures Fund LLC, Versant, and Gilde Healthcare also recorded significant participation in the funding round.
According to Stephen Hurly, the Chief Executive Officer at LAVA Therapeutics, the company is grateful for having attracted a high-quality group of new investors that complements the strong consistent support of its current investors. He has further stated that the financing delivers meaningful capital for advancing the company’s bispecific gamma-delta T cell engager portfolio into numerous proof-of-concept clinical trials for the treatment of hematologic malignancies and solid tumors that are likely to begin in 2021.
Additionally, the company believes in the adoption of a targeted approach that leverages the unique features of gamma9-delta2 T cells having innovative bispecific antibodies. Hurly has also added that LAVA will provide novel T cell-based therapies that deliver significant advantages over the present day oncology treatments.
The transaction has also added Partner at Novo Ventures, Nanna Luneborg, the EU Head of Investments at Sanofi Ventures, Laia Crespo, and the Managing Partner and Co-founder of Ysios, Joel Jean-Mairet, as the new members to LAVA’s Board of Directors.
Sources claim that Gamma-delta T cells are the surveillance cells of the human immune system that consistently patrol the human body for identifying and targeting tumor cells. These cells are anticipated to be a massive untapped opportunity in cancer treatment and are effectively known for bridging the innate with the adaptive immune system. LAVA Therapeutics’ bispecific gamma-delta T cell engager offering has been utilizing the distinct properties of these T cells for the purpose of developing a revolutionary tumor-targeted immunotherapy for bringing out better outcomes for cancer patients, add sources.