Triumvira Immunologics Completes Extension of Series A Financing, for Total Round of Approximately $100 Million
AUSTIN, Texas & HAMILTON, Ontario--(BUSINESS WIRE)-- Triumvira Immunologics, Inc. (“Triumvira”), a clinical-stage company developing novel, targeted autologous and allogeneic T cell therapeutics that co-opt the natural biology of T cells to treat patients with solid tumors, today announced the completion of an extension of its Series A financing, bringing the total round to approximately $100 million. The Series A extension featured new investors, including significant participation from B Capital Group, along with ATEM Capital, the Myeloma Investment Fund, the Multiple Myeloma Research Foundation’s venture philanthropy subsidiary, and others, joined by significant participation from existing investors, Leaps by Bayer, the impact investment unit of Bayer AG, and Northpond Ventures.
The proceeds of the financing will support the continued preclinical and clinical development of Triumvira’s T cell Antigen Coupler (TAC)-T cell therapy programs. Triumvira’s proprietary TAC receptor, a multi-domain chimeric molecule, interacts directly with the natural T cell receptor to uniquely help T cells recognize and eliminate tumor cells. The company’s lead program, TAC01-HER2, is currently being evaluated in a Phase 1/2 clinical trial for patients with HER2-overexpressing solid tumors (TACTIC-2), including breast, gastric, ovarian, pancreatic, gall bladder and non-small cell lung cancers.
“We would like to welcome our new investors to our Series A syndicate and acknowledge our current investors for their growing confidence in our technology and approach to empowering the body’s natural defenses against life-threatening solid tumors where there are significant gaps in cell therapies,” said Paul Lammers, M.D., M.Sc., President and CEO of Triumvira. “Our proprietary TAC technology platform offers an innovative approach to developing novel autologous and allogeneic treatments for solid tumors, and we are excited to advance our pipeline through 2022 and beyond.”
“The team has made impressive progress towards establishing the TAC-T cell platform in the clinic. We are thrilled to join the investor syndicate to support Triumvira’s next phase of growth as they apply this disruptive platform to deliver a strong and broad clinical pipeline,” said Robert Mittendorff, M.D., MBA, General Partner and Head of Healthcare at B Capital Group. “Cell therapies have become an essential modality in the oncology therapeutic arsenal and a priority for many biopharma companies. Triumvira’s TAC-T cell therapies have reproducibly shown superior efficacy and safety over existing CAR-T and TCR approaches in multiple preclinical models of solid and heme cancers,” added Widya Mulyasasmita, Ph.D., Senior Principal of Healthcare at B Capital Group. Additionally, Widya Mulyasasmita, Ph.D., will join the Triumvira board of directors.
“We are excited about our investment in Triumvira, which marks the 8th investment of its kind since we began funding research in 2019,” said Peter Kosa, Managing Director, Myeloma Investment Fund. “Our investment is consistent with our mission to deliver precision medicine approaches to every patient. We believe Triumvira’s technology will have broad applications in treating hematological cancers.”
About Triumvira Immunologics
Triumvira Immunologics, Inc. (“Triumvira”) is a clinical-stage company developing unique, non-gene edited, first-in-class targeted autologous and allogeneic T cell therapeutics that co-opt the natural biology of T cells to treat patients with solid tumors. The company’s proprietary T cell Antigen Coupler (TAC) technology is a robust and versatile platform that activates natural T cell functions differently from cell therapies such as CAR-T and engineered T cell receptor (TCR) therapies. Triumvira is headquartered in Austin, Texas with research facilities in Hamilton, Ontario.
Source: Triumvira Immunologics