Pan Cancer T secures €4.25m in Seed Extension Round to advance next-generation T cell therapies
July 11, 2024 – Drug Delivery – Pan Cancer T, investment, oncology, therapies
July 11 2024, Rotterdam, the Netherlands – Pan Cancer T B.V., a pioneering biotech start-up developing next-generation T cell therapies for solid cancer treatment, has successfully closed a €4.25m Seed Extension round. This round includes a new investor InnovationQuarter and continued support from existing investors: Van Herk Ventures, Thuja Capital, Swanbridge Capital and Erasmus MC O&O Holdings, bringing Pan Cancer T’s total funding to approximately €11m. As a result, investment manager of InnovationQuarter Nina Satih will take a supervisory board observer role.
The Seed Extension Round will allow Pan Cancer T to complete preclinical studies for its lead TCR-T cell product, PCT1:CO-STIM, and progress CMC activities, thereby creating value and derisking the project. The funding will also support progression of earlier-stage pipeline projects targeting colorectal and ovarian cancers and the development of a second next generation engineering approach.
“We are delighted to have closed this financing round with the support of InnovationQuarter and our existing investors,” says Rachel Abbott, CEO of Pan Cancer T. “This enables us to advance our lead product toward the clinic, offering new hope for patients with triple negative breast cancer. It also provides a firm foundation to secure a Series A round within the coming year and seek business development partnerships with Biotech and Pharma collaborators to further develop our assets, including our TCR:CO-STIM platform that is applicable to other TCRs and tumour indications.”
“InnovationQuarter is proud to invest in Pan Cancer T, contributing to the development of state-of-the-art cell therapies to combat hard-to-treat cancers”, says Kees Recourt, senior investment manager at InnovationQuarter. “This investment not only supports the company but also strengthens the entrepreneurial Life Sciences and Health cluster in the Province of Zuid-Holland”.
About Pan Cancer T
Pan Cancer T was founded in late 2020 as a spin-off from Erasmus MC (Rotterdam, the Netherlands) to advance next generation TCR T cell therapies for hard-to-treat solid tumours. The company’s approach includes two differentiating elements. First, it exploits unique targets for T cells that are exclusively and robustly expressed by multiple solid cancers. Second, it develops technologies that enhance the durability of the T cells. The company has ongoing R&D programs to develop safe and effective adoptive T cell therapies amenable to large cohorts of patients with triple negative breast cancer as well as cancers of the bladder, ovarium, colorectum, prostate, skin, esophagus, lung, or brain. Visit: www.pancancer-t.com
