Camarillo-based clinical-stage firm, ImmPACT BIO raised $111M in Series A funding.venBio Partners and Foresite Capital and Decheng Capital led the round. Surveyor Capital was also involved. OrbiMed and Novartis Venture Fund were also part of the round, as well as RM Global Partners and Bukwang Pharma. The company also announced Sheila Gujrathi’s appointment as its chair of the board of directors. Yvonne Yamanaka (Ph.D.), of venBio Partners, Cindy Xiong (Ph.D.), of Foresite Capital and Min Cui (Ph.D.), of Decheng Capital will also join the board.
The company plans to use the funds in order to increase the curative power of cell therapies for certain cancers as well as to address problems that limit the effectiveness of cell therapies in difficult-to-treat types of tumors.
Sumant Ramachandra MD, PhD, MBA is the president and CEO of ImmPACT Bio. The company is currently in the clinical stage and focuses on discovering transformative chimeric-antigen receptor (CAR-T-cell) therapies for patients with cancer who have exhausted all other options. Its logic-gate-based CAR-T platforms address the biological problems that are key to treating cancer.
ImmPACT Bio’s technology is specifically designed to prevent antigen escaping, prevent ‘on target – off-tumor toxicities’ and overcome the immunosuppressive tumor microenvironment.
The technology of the company is based on the pioneering work of Yvonne Chen, Ph.D. and Antoni Ribas M.D. Ph.D. both at the University of California, Los Angeles (UCLA) and Gideon Gross Ph.D. from the MIGAL–Galilee Research Institute.