Clade Therapeutics Raises $87 Million Series A Financing to Realize the Potential of Cell Therapy
CAMBRIDGE, Mass., Nov. 03, 2021 (GLOBE NEWSWIRE) -- Clade Therapeutics, a biopharmaceutical company focused on discovering and delivering scalable, off-the-shelf, next-generation stem cell-based medicines, today announced it has secured an $87 million Series A financing led by Syncona Ltd. with participation from LifeSci Venture Partners, Emerson Collective and Bristol Myers Squibb. Proceeds from this financing will support the development of the Company’s proprietary platform, which enables the immune cloaking of induced pluripotent stem cells (iPSCs) and the differentiation of cloaked stem cells into therapeutic cells.
“We have reached an era in medicine where insights across genetic engineering, regenerative medicine and immunology have enabled a revolution of cell medicines,” said Chad Cowan, Ph.D., Chief Executive Officer of Clade Therapeutics. “Clade was founded to overcome the clinical limitations of current cell therapies by addressing durability, patient compatibility, reproducibility and scalability to deliver on the transformative potential of this increasingly important therapeutic modality.”
Jim Glasheen, Ph.D., President and Chief Business Officer of Clade Therapeutics, said, “We feel very fortunate to partner with a world-class group of investors. The syndicate’s combination of industry insight, technical expertise, entrepreneurial zeal, and focus on patient impact brings incredible value to the Company.”
Martin Murphy, Ph.D., Chief Executive Officer of Syncona Ltd., said, “Clade’s inherent focus on developing therapies derived from a single engineered cell source has the potential to shift the paradigm of cell medicine with unprecedented scalability and standardization. We are thrilled to support Clade’s aggressive development of broadly accessible, off-the-shelf products with consistent pharmaceutical criteria to expand the reach of cell therapies across patients and indications.”
Ryan Cinalli, Ph.D., Chief Scientific Officer of LifeSci Venture Partners, said, “Clade has assembled a world-class team of scientific pioneers whose foundational discoveries are integral to the Company’s immune cloaking technology platform. We are confident that Clade’s leadership will innovate the next generation of cell therapies that harness cloaking technology to overcome the immune barriers that have limited durability and redosing in the field.”
Neil White, Investment Manager of Emerson Collective, said, “The unparalleled expertise and novel approach to generating stem cell-derived adult T, NK and B cells positions Clade as leaders in developing widely accessible cell medicines. With differentiation and cloaking technologies in place, this funding round will accelerate the development of Clade’s immune cell-focused, cancer therapeutics.”
About Clade Therapeutics
Clade Therapeutics’ mission is to discover and deliver next generation cell medicines to improve the lives of patients in need. Our platform technology “cloaks” human pluripotent stem cells and their adult derivatives enabling the development of immune compatible cell transplantation therapies. Led by a world-class team of company builders and scientific innovators with an unparalleled expertise in generating stem cell-derived adult T, NK and B cells, Clade promises to become a leading innovator in developing widely accessible cell medicines. The company is initially focused on harnessing the potential of “cloaked” immune cells for cancer treatment. For further information, please visit the company's website at https://www.cladetx.com/.
Syncona's purpose is to invest to extend and enhance human life. We do this by founding and building a portfolio of global leaders in life science to deliver transformational treatments to patients in areas of high unmet need.
Our strategy is to found, build and fund companies around exceptional science to create a diversified portfolio of 15-20 globally leading healthcare businesses for the benefit of all our stakeholders. We focus on developing treatments for patients by working in close partnership with world-class academic founders and management teams. Our balance sheet underpins our strategy enabling us to take a long-term view as we look to improve the lives of patients with no or poor treatment options, build sustainable life science companies and deliver strong risk-adjusted returns to shareholders.
About LifeSci Venture Partners
Formed in 2017, LifeSci Venture Partners is the early stage investing arm of LifeSci Partners, a unique life sciences and healthcare consultancy. We focus on private institutional financing rounds of transformational healthcare companies managed by exceptional founder/entrepreneurs. Our most recent fund, LifeSci Venture Partners II, LP was launched in 2020 and has invested in more than 25 breakthrough biotechnology and healthcare technology companies. For further information, please visit the company's website at https://www.lifesciventure.com/.
About Emerson Collective
Emerson Collective deploys a wide range of tools — from impact investing to philanthropy to advocacy — in pursuit of a more equal and just society. We focus on creating systemic change in education, immigration, climate, and cancer research and treatment.
Forward Looking Statements
This press release contains forward-looking statements including, but not limited to, statements related to Clade’s iPSC immune cloaking and differentiation platform technology to address compatibility, durability, reproducibility and scalability of cell therapies, Clade’s ability to develop broadly accessible, off-the-shelf products with consistent pharmaceutical criteria and expand the reach of cell therapies across patients and indications, the funding round resulting in the acceleration of the development of Clade’s immune cell-focused, cancer therapeutics and the value that the investor syndicate adds to the Company. These forward-looking statements are based on our current expectations and inherently involve significant risks and uncertainties. Actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties, which include, without limitation, risks that Clade’s actual future financial and operating results may differ from its expectations or goals, Clade’s ability to commercialize and successfully launch its products, risks relating to Clade’s ability to successfully implement its business strategies, including potential competition, the ability to protect intellectual property and defend patents, regulatory obligations and oversight, including any changes in the legal and regulatory environment in which Clade operates and the effects of the COVID-19 pandemic on the business. We undertake no duty or obligation to update any forward-looking statements contained in this press release as a result of new information.
Ligia Vela Reid