Atreca bags $35M B round for next-gen immuno-oncology drug pipeline
Atreca out of Redwood City, CA has rounded up a $35 million B round to fund its research on the human immune system and how it can be better aroused against cancer by the right kind of antibodies.
The biotech is taking a next-gen approach to immuno-oncology, part of a rapidly broadening field that are learning why the first generation of checkpoint inhibitors often don’t work for more than a minority of any particular patient group. By analyzing active B cell responses to tumor tissue, they expect to find multiple new and more effective drugs.
It’s early days, though, with the first IND planned for next year.
That profile attracted some marquee investors, though Atreca isn’t revealing every backer in this round. Wellington Management Company co-led the round with “a large US-based, healthcare-focused fund.” New investor Cormorant Asset Management also stepped in alongside some unnamed investors.
The biotech partnered with some top investigators at Dana-Farber in May. The launch round weighed in at $56 million back in late 2015.
“We are very pleased with the continued support of our existing investors, as well as the commitment of our new, high-caliber investors,” said Atreca CEO and co-founder Tito A. Serafini. “With their participation, we continue to build a foundation for long-term growth. This funding enables us to accelerate the acquisition of immune response data central to cancer immunotherapy and to expand and advance our pipeline of novel antibody therapeutics based on those data.”