MENLO PARK, Calif., Oct. 2, 2019 /PRNewswire/ -- Adicet Bio, Inc., a biopharmaceutical company focused on the development of allogeneic cell therapies for cancer using innovative gamma delta T cells, announced today the completion of an $80 million Series B financing.
"Gamma delta T cells are a highly promising, emerging modality for treating cancer," said Anil Singhal, Ph.D. President and Chief Executive officer of Adicet Bio, Inc. "This financing will permit Adicet to continue to develop our proprietary technology, to enter the clinic in Non-Hodgkin's Lymphoma and to advance our solid tumor programs. We are gratified with the support of the investment community."
New investors include aMoon2 Fund, Regeneron Pharmaceuticals, Inc., Johnson & Johnson Innovation – JJDC, Inc. (JJDC), OCI Enterprises, Inc, KB Investment Co., Ltd., Consensus Business Group, SBI JI Innovation Fund, Samsung Venture Investment Corporation, Handok, Inc., and DSC Investment, Inc. All existing investors including OrbiMed, Novartis Venture Fund and Pontifax also participated in the financing.
As part of the Series B financing, aMoon and JJDC will be joining Adicet's Board of Directors. Representing aMoon Fund will be Yair Schindel, M.D., Co-Founder & Managing Partner.
RM Global Partners LLC, an investment banking and strategic advisory firm, acted as Adicet Bio's advisors for the Series B financing.
About Adicet Bio, Inc. Adicet Bio, Inc. is a privately held, pre-clinical stage biotechnology company developing novel universal immune cell therapies based on gamma delta T cells engineered with Chimeric Antigen Receptors. Adicet is also focused on identifying and validating cancer specific targets directed to the intracellular proteome and then generating T Cell Receptor-like monoclonal antibodies (TCRLs) directed to these cancer-specific peptide targets presented by MHC Class I complexes. These TCRLs are being used to arm T cells or as T cell engagers in solid tumors. In August 2016, Adicet entered into a strategic collaboration with Regeneron Pharmaceuticals, Inc. to develop next-generation engineered immune-cell therapeutics using Adicet's gamma delta T cell allogeneic platform technology.