Atreca Raises $125 Million to Expand its Preclinical Pipeline and Advance its First Program into Clinical Trials
REDWOOD CITY, Calif.--(BUSINESS WIRE)-- Atreca, Inc., a biotechnology company focused on developing novel therapeutics based on a deep understanding of the human immune response, announced today the closing of an oversubscribed $125 million financing. This Series C round was led by a large U.S.-based, healthcare-focused fund, an existing Atreca investor. Participating in the round were other existing investors including Wellington Management Company LLC, and Cormorant Asset Management, based in Boston, and joined by new investors Aisling Capital, Boxer Capital of the Tavistock Group, EcoR1 Capital, Redmile Group, Samsara BioCapital, and funds managed by Tekla Capital Management.
“This funding enables us to broaden and accelerate our discovery and pipeline generation efforts and to move our first candidate into clinical development,” said John A. Orwin, President and Chief Executive Officer of Atreca. “This first candidate, generated by our unique Discovery Engine and via our proprietary Immune Repertoire Capture® (IRC™) technology, represents a novel and potentially fundamental new class of oncology immunotherapeutics. We appreciate the support of both our new and existing investors as we advance the Company to this next stage of development.”
“Our oversubscribed Series C financing provides further validation of Atreca’s ability to discover and develop high-potential therapeutic candidates via its unique approach,” said Brian Atwood, Chairman of the Board of Directors of Atreca. “The quality of the investor syndicate and magnitude of the round reflects the value we have built in our discovery capabilities and the progress we have made in our preclinical programs since our Series B financing just a year ago.”
Cowen served as exclusive placement agent for the financing.
About Atreca, Inc.
Atreca is a privately held biotechnology company developing novel therapeutics based on a deep understanding of the human immune response. We focus in a unique way on the immune responses of patients in therapeutic areas where such responses are the key phenomenon driving clinical outcomes, enabling us to discover and develop novel immunotherapies. Atreca is advancing a pipeline of candidates designed to engage the human immune response in oncology and other indications, thus driving better therapeutic outcomes. For more information on Atreca, please visit www.atreca.com.
Source: Atreca, Inc.