Cell therapy startup bit.bio adds $100M+ to its coffers and some impressive names to its board of directors
Bit.bio CEO Mark Kotter says the last major revolution in biopharma occurred around the 1980s, when antibodies — or, as some called them, anticancer “magic bullets” — opened up the door for new therapies.
Now cell therapy is having a very similar moment, he told Endpoints News, and some blue-chip investors are giving his cell coding company $103 million to get behind it.
Kotter unveiled the high-dollar Series B round on Friday, with participation from Arch Ventures, Charles River Laboratories, Foresite Capital, National Resilience, Metaplanet, Puhua Capital and Tencent. The new cash builds on a $41.5 million Series A round that attracted some interesting investors last June, including National Cancer Institute ex-chief Rick Klausner, Arch’s Bob Nelsen and Foresite Capital CEO Jim Tananbaum.
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