Century Therapeutics Completes $160 Million Series C Financing to Accelerate Development of iPSC-derived Cell Therapy Pipeline
Financing led by Casdin Capital and joined by Fidelity Management & Research LLC, the Federated Hermes Kaufmann Funds, RA Capital, Logos Capital, OrbiMed, Marshall Wace, Qatar Investment Authority, Avidity Partners, Octagon Capital, and joined by founding investors Versant Ventures and Leaps by Bayer
Capital to expand novel iPSC platform and drive product development
Eli Casdin, Chief Investment Officer of Casdin Capital, to join Century's Board of Directors
PHILADELPHIA, March 3, 2021 /PRNewswire/ -- Century Therapeutics, a leading cell therapy company developing induced pluripotent stem cell (iPSC)-derived cell therapies in immuno-oncology, today announced the closing of a $160 million Series C financing. The financing was led by Casdin Capital and brought together a syndicate of new investors including Fidelity Management & Research LLC, the Federated Hermes Kauffmann Funds, RA Capital, Logos Capital, OrbiMed, Marshall Wace, Qatar Investment Authority, Avidity Partners, and Octagon Capital. Founding investors Versant Ventures and Leaps by Bayer also participated. Eli Casdin, Founder and Chief Investment Officer of Casdin Capital will be joining the Century Therapeutics Board of Directors.
"We are fortunate to be surrounded by such a top-tier group of investors, whose support will enable the acceleration of Century's technology platform into the clinic," said Lalo Flores, Chief Executive Officer, Century Therapeutics. "With this new investor partnership, we are well-positioned to capitalize on the tremendous potential of our integrated iPSC, cell engineering and manufacturing capabilities to develop safer, more effective and more affordable next generation allogeneic cancer therapies."
Funds raised will help advance Century's rich pre-clinical pipeline, which includes multiple iPSC-derived CAR-iT and CAR-iNK cell products. These products are designed to resist host rejection, enhance cell persistence, and allow repeat dosing to provide durable responses in all patients. The team anticipates beginning clinical testing of its first products in 2022, as well as generating multiple INDs annually in the coming years.
"It's a remarkable and transformative time in the field, with the ability to engineer cells for therapeutic impact now a commercial reality. At the same time, iPSC technology has matured and is now leading the transition from bespoke autologous products to off-the-shelf allogeneic ones." said Eli Casdin CIO of Casdin Capital. "We could not be more excited to partner with the expert team at Century Therapeutics and do our part to help them leverage and accelerate their deep technical expertise in cellular reprogramming, differentiation, genetic engineering and manufacturing to deliver on this next phase of cellular therapy."
About Century Therapeutics
Century Therapeutics is harnessing the power of adult stem cells to develop curative cell therapy products for cancer that overcome the limitations of first-generation cell therapies. Our genetically engineered, iPSC-derived iNK and iT cell products are designed to specifically target hematologic and solid tumor cancers. Our commitment to developing off-the-shelf cell therapies will expand patient access and provides an unparalleled opportunity to advance the course of cancer care. For more information, please visit www.centurytx.com.