Immunitas Therapeutics, a Waltham-based immuno-oncology startup, has closed a $58 million Series B financing round to continue developing its single-cell genomics-based therapies.
The funding round was led by Agent Capital and counted with participation from Medical Excellence Capital (MEC), 120 Capital, Solasta Ventures, Mirae Asset, Ono Venture Investment, The Mark Foundation for Cancer Research, NS Investment, BrightEdge (American Cancer Society), and The Leukemia & Lymphoma Society Therapy Acceleration Program® (LLS TAP). Geeta Vemuri, Founder & Managing Partner at Agent Capital, referred to the round by stating:
“Immunitas is focused on creating impactful therapies that modulate oncology targets, driven by a cross-functional platform that combines single cell analysis computation and molecular and cellular biology to rapidly identify and validate new targets. This approach is well suited to provide powerful translational insights into biomarker and indication selection with long-term potential beyond IO.”
The funding will be used to advance the startup’s lead program, IMT-009, into clinical trials for the treatment of solid tumors and hematological malignancies. This approach has shown promising results when it comes to enhanced tumor-killing effects, creating an increase in critical cytokines, and increased survival during treatment. Jeffrey Goldberg, Chief Executive Officer of Immunitas Therapeutics, referred to the round and the startup’s technology by saying:
“Immunitas has made tremendous strides in the past year. This Series B financing is a key inflection point for the company and will enable us to drive IMT-009 rapidly into the clinic, while continuing to build and validate our pipeline of novel oncology programs. Our single cell technology platform allows our team to incorporate insights from human biology throughout the discovery and development process, enabling us to rapidly move towards serving patients in need.”
The immuno-oncology startup also counts on funding and support from important companies in the pharmaceutical sector such as Bayer and Novartis, which has allowed it to advance its research and clinical trials. So far, Immunitas Therapeutics has raised $97 million in funding since being founded back in 2019.