Lava Therapeutics announces $83 million series C financing to advance novel gamma-delta T cell engager programs
Utrecht (The Netherlands) and Philadelphia – Gilde Healthcare company Lava Therapeutics announced the closing of an oversubscribed $83 million (€71 million) Series C financing to fund the advancement of its pipeline and platform. The financing was co-led by new investors Novo Ventures and Sanofi Ventures, and included additional new investors Redmile Group LLC, Ysios Capital and BB Pureos Bioventures. In addition, current investors Gilde Healthcare, Versant and MRL Ventures Fund LLC participated significantly in the round.
“We are grateful to have attracted a high-quality syndicate of new investors complementing strong continued support of our existing investors. This financing provides meaningful capital to advance our bispecific gamma-delta T cell engager portfolio into multiple proof-of-concept clinical trials expected to start in 2021 for the treatment of solid tumors and hematologic malignancies,” said Stephen Hurly, chief executive officer of Lava Therapeutics. “We believe our targeted approach, leveraging the unique features of gamma9-delta2 T cells with innovative bispecific antibodies, will deliver novel T cell-based therapies offering advantages over today’s oncology treatments”.
Gamma-delta T cells are the natural surveillance cells of the immune system, continuously patrolling the human body for the identification and targeting of tumor cells. These cells bridge the innate with the adaptive immune system and are a largely untapped opportunity in cancer treatment. Lava Therapeutics’ bispecific gamma-delta T cell engager platform is harnessing the unique properties of these T cells creating a revolutionary truly tumor-targeted immunotherapy to improve outcomes for cancer patients.
Gilde Healthcare acted as lead investor in the first institutional investment round of €16M in 2018. Gilde Healthcare’s Operational Partner Prof. Dr. Paul Parren is actively involved as Head of R&D.
About Lava Therapeutics
Lava Therapeutics is developing a proprietary bispecific antibody platform that engages gamma-delta T cells for the treatment of hematological and solid cancers. The company’s first-in-class immuno-oncology approach activates gamma delta T cell upon binding to membrane-expressed tumor targets. Lava Therapeutics was founded in 2016 based on intellectual property originating from the Amsterdam University Medical Center. The company has established a highly experienced antibody research and development team located in Utrecht, the Netherlands and Philadelphia, USA. For more information, please visit www.lavatherapeutics.com.
About Gilde Healthcare
Gilde Healthcare is a specialized healthcare investor managing over €1.4 billion ($1.5 billion) across two fund strategies: venture & growth capital and private equity. Gilde Healthcare's venture & growth capital fund invests in fast growing companies active in digital health, medtech and therapeutics. The venture & growth companies are based in Europe and North America. Gilde Healthcare's private equity fund invests in profitable European lower mid-market healthcare companies with a focus on the Benelux and DACH region. The private equity fund targets healthcare providers, suppliers of medical products and service providers in the healthcare market. For more information, visit the company's website at www.gildehealthcare.com.