Achilles Therapeutics raises £52.7 Million in an oversubscribed series C financing to further advance the development of personalised T cell Therapies to treat solid tumours
Achilles Therapeutics (“Achilles”), a clinical-stage biopharmaceutical company developing personalised T cell therapies targeting clonal neoantigens, a novel class of tumour target, today announced it has raised £52.7 million in an oversubscribed Series C financing. OrbiMed, Boxer Capital of Tavistock Group, and other prominent US-based, healthcare-focused institutional investors join existing investors including RA Capital, Syncona, Forbion, Invus, Perceptive Advisors and Redmile Group.
Proceeds from this financing will be used to accelerate the Company’s R&D activities and further build the clinical network to support the Company’s ongoing Phase I/IIa trials, the THETIS trial in patients with recurrent or metastatic malignant melanoma and the CHIRON trial in patients with advanced non-small cell lung cancer. Both clinical trials use the Company’s innovative personalised T cell therapy approach targeting clonal neoantigens and are currently enrolling patients with interim data expected from both studies in the first half of 2021. In addition, the financing will enable the continued build out of Achilles’ manufacturing capabilities and broaden its growing pipeline of solid tumour pre-clinical product candidates.
“Achilles has made tremendous progress since its founding in 2016, and with this financing round we are further strengthening our outstanding syndicate with more leading US healthcare investors. I am delighted with this strong support for our innovative platform, team, and ambitious development strategy,” said Dr. Iraj Ali, CEO of Achilles Therapeutics. “As we progress our two lead programmes in non-small cell lung cancer and melanoma through clinical trials, we believe that our personalised T cell therapy approach has the potential to transform how certain cancers are treated, bringing much needed novel cancer therapies to patients.”