Novartis helps treat Adicet to $51m

Jan 28, 2016 • Thierry Heles

Immunotherapy developer Adicet Bio revealed the series A funding alongside its acquisition of Israel-based Applied Immune Technologies.

US-based biopharmaceutical company Adicet Bio closed a $51m series A round yesterday featuring Novartis Venture Fund, the corporate venturing arm of pharmaceutical firm Novartis.

The round was led by healthcare-focused investment firm OrbiMed and included venture capital firm Pontifax.

Adicet concurrently announced it has acquired Israel-based immunotherapies developer Applied Immune Technologies (AIT) for an undisclosed amount.

Pontifax had invested $4m in AIT, a spinout of Technion Israel Institute of Technology, in 2010. It will continue to operate in Israel as…

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