ROCKVILLE, Md., April 15, 2021 /PRNewswire/ -- American Gene Technologies (AGT), an emerging gene and cell therapy company, announced today that Gaingels, a leading venture investment syndicate in service of the LGBT+ community and its allies, made an investment in AGT to support the Phase 1 clinical trial of an HIV cure. The Phase 1 human trial is investigating the safety of AGT103-T, a single dose, autologous cell therapy intended to cure the disease.
This investment places Gaingels alongside private investors who believe deeply in AGT's mission, rapid drug development platform, and gene and cell therapy programs for HIV, cancer, and PKU.
Gaingels is an investment network comprised of 1000+ investors focused on high-growth venture-backed companies who embrace LGBT+ leadership. Gaingels works to support its portfolio companies in identifying and recruiting diverse leadership talent, fostering a vibrant global community of industry leaders, investors, operators, and entrepreneurs who share a common goal for positive social change through business and successful investments.
"Diversity in every aspect of society and business leads to the best outcomes for all of humanity," said Jeff Galvin, CEO and Founder of American Gene Technologies. "AGT is a place where smart, motivated people of every background thrive—our team, investors, and the populations we serve are all diverse. We're proud to partner with Gaingels to accelerate solutions to the market and to achieve success for patients and investors alike. This investment is symbolic to us at AGT. Our science, mission, and team present opportunities and products that uplift everyone without regard to background, lifestyle, or identity," Galvin added. "AGT's one-and-done cell therapy is intended to create a durable natural immunity to HIV, returning HIV+ persons to a life without daily antiretroviral medication, and free of the risks of AIDS, transmitting HIV to others, or becoming reinfected. Gaingels support will put us another step closer to achieving this goal."
"As the largest investor network focused on supporting and investing in the best venture-backed companies that embrace and value diverse leadership, including LGBTQ+, Gaingels is proud of participating in AGT's financing," said Lorenzo Thione, Managing Director of Gaingels. "Its mission hits uniquely close to home for the LGBTQ+ community given AGT's focus on creating functional immunity and thus an effective cure for HIV. We are resolved on helping the company grow and scale and achieve this uniquely ambitious and important goal, while strengthening its prospects of success by building a culture that reflects the diversity of its executive teams, staff and customers."
Gaingels is the leading investment syndicate in support of and representing the LGBTQ community and allies in the venture capital space. With over $150,000,000 deployed into a portfolio of over 300 companies, Gaingels seeks to directly and indirectly influence the venture ecosystem towards greater diversity, inclusion and equity of access. Gaingels invests in companies resolved on building diverse and inclusive teams who are aligned with our mission and seek to expand and embrace LGBTQ leadership into their companies and boards. We actively support our portfolio companies in identifying and recruiting diverse leadership talent, and we strive to foster a vibrant global community of industry leaders, investors, operators, and entrepreneurs who share a common goal for positive social change through business and successful investments. Gaingels is a founding co-signer of the Diversity Term Sheet Rider Initiative to increase access to venture funding events for non-traditional check writers, and regularly co-invests with select VC leads across a variety of sectors, from technology, to B2B, healthcare and consumer, in competitive and over-subscribed rounds from Seed to Growth/pre-IPO.
About American Gene Technologies (AGT)
American Gene Technologies (AGT) is a gene and cell therapy company with a proprietary gene-delivery platform for rapid development of cell and gene therapies to cure infectious diseases, cancers, and inherited disorders. AGT's mission is to transform people's lives through genetic medicines that rid the body of disease. AGT has three patents for the technology used to make the AGT103-T cell product which is currently in a clinical trial to test its ability to functionally cure HIV+ individuals. AGT also has received ten patents for its unique immuno-oncology approach to stimulate gamma-delta (γδ) T cells to eliminate a variety of human solid tumors, such as breast, prostate, and liver cancer. The company has developed a synthetic gene for treating Phenylketonuria (PKU), a debilitating inherited disease, and has been granted Orphan Drug Designation by the Food and Drug Administration (FDA).
For more information on AGT's Phase 1 clinical trial, visit clinicaltrials.gov (Study Identifier: NCT04561258).
SOURCE American Gene Technologies