Allogene Therapeutics Completes a $120 Million Private Financing
SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)-- Allogene Therapeutics, Inc., a clinical-stage biotechnology company pioneering the development of allogeneic CAR T therapies for cancer, today announced it has completed a $120 million private financing of Convertible Notes. Participants in this financing were primarily first-time investors in Allogene. The financing was led by Perceptive Advisors and included Deerfield Management Company, L.P., Fidelity Management and Research Company, Franklin Templeton Investments, Jennison Associates (on behalf of certain clients), Surveyor Capital (a Citadel company), funds and accounts advised by T. Rowe Price Associates, Inc., the University of California Office of the Chief Investment Officer, venBio Select Advisor, as well as additional large mutual funds.
“We are very pleased to significantly expand our investor base with support from a distinguished syndicate who understand the cell therapy landscape,” said David Chang, M.D., Ph.D., President, Chief Executive Officer and Co-Founder of Allogene. “Our goal is to maintain our leadership in allogeneic CAR T therapy and be the first company to develop and commercialize an allogeneic CAR T product. This financing will help us accelerate the development of our broad portfolio and invest in world class technical operations to make potentially lifesaving cell therapies more readily accessible to patients.”
Allogene is advancing its allogeneic CAR T cell portfolio, which includes rights to 16 preclinical CAR T cell therapy targets and U.S. rights to UCART19, an allogeneic CAR T cell therapy candidate that is being developed for the treatment of CD19-expressing hematological malignancies. In partnership with Servier, UCART19 is in Phase 1 development for the treatment of relapsed/refractory acute lymphoblastic leukemia (ALL).
Cowen acted as a placement agent for the financing.
About Allogene Therapeutics
Allogene Therapeutics, with headquarters in South San Francisco, is a clinical stage biotechnology company pioneering the development of allogeneic chimeric antigen receptor T-cell (CAR T) therapies for cancer. Led by a world-class management team with significant experience in cell therapy, Allogene is developing a pipeline of “off-the-shelf” CAR T cell therapy candidates with the goal of delivering readily available cell therapy faster, more reliably and at greater scale to more patients.
Allogeneic CAR T cell therapies are engineered from cells of healthy donors which is intended to allow for creation of inventory for “off-the-shelf” use in patients. This approach is designed to eliminate the need to create personalized therapy from a patient’s own cells, simplify manufacturing, and reduce the time patients must wait for CAR T cell treatment. The Allogene portfolio includes rights to 16 pre-clinical CAR T cell therapy targets and UCART19, an allogeneic CAR T therapy candidate currently in Phase 1 development for the treatment of relapsed/refractory acute lymphoblastic leukemia (ALL). For more information, please visit www.allogene.com, and follow @AllogeneTx on Twitter and LinkedIn.
Allogene Media/Investor Contact:
Christine Cassiano, 714-552-0326
Chief Communications Officer
Source: Allogene Therapeutics, Inc.