Shoreline Biosciences Announces $43M Financing To Advance Pipeline Of Allogeneic Natural Killer And Macrophage Cellular Immunotherapies Derived From Pluripotent Stem Cells
SAN DIEGO, April 7, 2021 /PRNewswire/ -- Shoreline Biosciences, Inc. (Shoreline), a biotechnology company developing intelligently designed allogeneic off-the-shelf, standardized and targeted natural killer (NK) and Macrophage cellular immunotherapies derived from induced pluripotent stem cells (iPSC) for cancer and other serious diseases, today announced the completion of a $43M capital raise. The financing was led by Boxer Capital, with participation from BVF Partners L.P., Commodore Capital, Cormorant Capital, Janus Henderson Investors, Logos Capital, Kite, a Gilead company, and Wedbush Healthcare Partners, in addition to Stork Capital, and other investors. In connection with the financing, Christopher Fuglesang, Ph.D., J.D. from Boxer Capital, joined the Shoreline Board of Directors.
The proceeds from the financing will allow Shoreline to accelerate the advancement of its proprietary iPSC platform focused on developing next generation NK cell and macrophage-cell therapies, while also supporting research efforts to create potent and persistent NK cell-specific Chimeric Antigen Receptors (CARs), switchable CAR-NK cell engagers and macrophage-specific CARs. In addition, Shoreline has entered into a strategic relationship with the Advanced Cell Therapy Laboratory of UC San Diego, a well-recognized manufacturing partner, to secure GMP manufacturing of Shoreline's cell therapy products.
"We are thrilled to have the support of such outstanding investors who share our vision and commitment to build a differentiated and exciting cell therapy company with the ambition to lead the next wave of allogeneic, off-the-self, targeted and standardized cell therapies," said Kleanthis G. Xanthopoulos, Ph.D., Shoreline Co-Founder and Executive Chairman. "With this financing, we are well-positioned to drive our programs to the clinic in multiple indications and to build a domain-dominant cell therapy company."
"We look to invest in companies that are pushing that boundaries of scientific innovation and Shoreline is doing exactly that. Their approach to intelligently designing iPSC-derived cell therapies will help solve many of the current challenges with cell therapies," said Christopher Fuglesang, Ph.D., J.D., co-founder and Managing Director of Boxer Capital.
Shoreline Biosciences was co-founded by renowned cell therapy expert Dan Kaufman, M.D., Ph.D., and biotech veterans Steven Holtzman, William Sandborn, M.D. and Kleanthis G. Xanthopoulos, Ph.D.
About Shoreline Biosciences
Shoreline is a biotechnology company dedicated to advancing the development of intelligently designed allogeneic off-the-shelf, targeted and standardized cellular immunotherapies for cancer and other serious diseases. Shoreline is building a pipeline of natural killer (NK) cell and macrophage-cell therapy candidates derived from its deep expertise in iPSC differentiation methods and genetic reprogramming of disease relevant pathways. Shoreline has a strategic manufacturing relationship with the Advanced Cell Therapy Laboratory and is supported by high-quality institutional investors including Boxer Capital, BVF Partners L.P., Commodore Capital, Cormorant Capital, Janus Henderson Investors, Logos Capital, Kite, a Gilead company, Wedbush Healthcare Partners, Stork Capital and others. Shoreline Biosciences is headquartered in San Diego, CA.
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SOURCE Shoreline Biosciences, Inc.