TScan Therapeutics Announces $100 Million Series C Financing | Company & Finance

WALTHAM, Mass.–(Business enterprise WIRE)–Jan 25, 2021–

TScan Therapeutics, a biopharmaceutical corporation targeted on the advancement of T-mobile receptor (TCR) engineered T cell therapies in oncology, today declared the closing of an oversubscribed $100 million Collection C financing. The financing round additional new buyers such as money and accounts managed by BlackRock, RA Money Management, and two undisclosed healthcare-targeted money. Present traders which include founding trader Longwood Fund, 6 Dimensions Money, Bessemer Enterprise Partners, GV, Novartis Venture Fund and Pitango HealthTech also participated in the spherical. Proceeds from this funding will be applied to progress TScan’s TCR-T mobile treatment pipeline for good and liquid tumors into the clinic.

“This funding will empower TScan to progress its 1st two TCR-T mobile property into the clinic in 2021, with three additional programs to enter the clinic in 2022,” claimed David Southwell, Chief Executive Officer at TScan. “I’m enthusiastic to welcome this new syndicate of distinguished healthcare buyers to TScan. A short while ago, we have recognized above 40 novel most cancers targets from clinically active TCRs for progress of multiplexed TCR-T mobile therapies as aspect of our good tumor system. Our purpose is to keep on to establish a bank of clinically-active TCRs during 2021 to help clients win their fight against cancer.”

TScan is advancing a multi-TCR T mobile therapy system for strong tumors, with programs to nominate an original established of 3 focus on candidates in 2021 and IND submissions to abide by in 2022. The Corporation also signed a strategic partnership with Novartis in 2020 for the discovery of novel oncology targets in a pick out reliable tumor indication. TScan expects to full IND-enabling research for two of its liquid tumor applications, TSC-100 and TSC-101, and post INDs for the two applications with the U.S. Food and Drug Administration (Fda) in the next 50 % of 2021. The Enterprise is also exploring use of its novel goal discovery engineering for both equally infectious and autoimmune disorders.

TScan discovers and develops transformative T mobile therapies (TCR-T) to treat sound tumors and hematologic malignancies, as very well as other significant ailments. Our proprietary, significant-throughput system identifies novel, clinically-derived, shared T cell antigens and all off-concentrate on TCR interactions. TScan is implementing this system to the improvement of extremely efficacious TCR-T mobile therapies with minimum off-goal consequences. Direct packages TSC-100 and TSC-101 are anticipated to enter scientific progress for hematologic malignancies in 2021, and the Corporation is advancing supplemental TCR-T mobile systems for good cancers. The Enterprise has raised over $180 million to date from leading strategic collaborators, which include Novartis, founding trader Longwood Fund and other traders.


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Supply: TScan Therapeutics

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PUB: 01/25/2021 07:00 AM/DISC: 01/25/2021 07:01 AM

Copyright Business Wire 2021.