University of Birmingham's cancer immunotherapy developer Revitope Oncology secured equity funding as part of a $160m alliance with Junshi Biosciences.

Revitope Oncology, a US-based cancer therapeutics spinout of University of Birmingham, is set to receive $10m in equity funding from biopharmaceutical firm Junshi Biosciences as part of a collaboration and licensing agreement. Junshi could supply as much as $160m for each molecule discovered under the partnership in milestones and royalties.  The equity funding is in exchange for a total 9.99% stake in Revitope, dependent on mutual agreement and applicable laws. Revitope is developing a class of cancer immunotherapies to engage immune system T-cells into fighting off solid and blood-based tumours. The approach centres on an antibody circuit that splits up when approaching cancer cells in order to present two different antigens, marking the cancer out for destruction by T-cells so that healthy tissues are spared. Under the licence and collaboration agreement, Revitope and Junshi will use the platform to deliver target antigens identified through consultation between both parties. Junshi will have global rights for the antigens and will manage initial studies, clinical development, manufacturing and commercialisation. Revitope was founded in Birmingham in 2014 but has since shifted its lab to Massachusetts in the US. The spinout raised $8.5m from undisclosed investors in 2016, according to FinSMEs. Mark Cobbold, senior clinical research fellow at University of Birmingham’s School of Immunity and Infection, came up with the antibody concept while working alongside Cancer Research Technologies (CRT), the tech transfer arm of research charity Cancer Research UK. James Wilkie, chief executive of University of Birmingham Enterprise, the university’s tech transfer office, said: “I could not be more delighted to see the progress of a company created at Birmingham.”

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