Pan Cancer T Secures €4.25 Million to Advance Next-Generation T Cell Therapies in Seed Extension Round
Friday, July 12, 2024
Pan Cancer T B.V., a biotech start-up focusing on advancing T cell therapies for solid cancers, has successfully closed a €4.25 million Seed Extension round. This funding includes new investor InnovationQuarter and continued support from existing investors: Van Herk Ventures, Thuja Capital, Swanbridge Capital, and Erasmus MC O&O Holdings, bringing Pan Cancer T’s total funding to approximately €11 million. Nina Satih from InnovationQuarter will join as a Supervisory Board observer.
The Seed Extension Round will enable Pan Cancer T to finalize preclinical studies for its lead TCR-T cell product, PCT1, and advance CMC activities, thus increasing project value and reducing risk. Additionally, the funding will support development of earlier-stage pipeline projects targeting colorectal and ovarian cancers, as well as a second next-generation engineering approach.
Pan Cancer T, expressed enthusiasm: "We are thrilled to secure this financing round with the backing of InnovationQuarter and our existing investors. This allows us to advance our lead product towards clinical trials, offering new hope to patients with triple negative breast cancer. It also positions us strongly to pursue a Series A round in the next year and seek business partnerships with Biotech and Pharma collaborators to further develop our assets, including our versatile TCR platform applicable to various TCRs and tumor indications."
Kees Recourt, Senior Investment Manager at InnovationQuarter, emphasized their support: "InnovationQuarter is proud to invest in Pan Cancer T, contributing to the advancement of cutting-edge cell therapies for challenging cancers. This investment not only bolsters the company but also strengthens the Life Sciences and Health cluster in the Province of Zuid-Holland."
Regarding their technology, Pan Cancer T addresses key challenges in adoptive T cell therapies for solid cancers. Their lead candidate, PCT1, features an IP-protected T cell receptor (TCR) specific to ROPN1, a tumor-restricted target prevalent in over 90% of triple negative breast cancer and melanoma patients. This TCR is generated using Pan Cancer T’s validated discovery platform and includes a proprietary solution to enhance T cell response within the hostile tumor microenvironment, significantly improving response duration in preclinical models.
Source: globenewswire.com
