KPCB and affiliates have supplied a $35m series A extension for University of Pennsylvania spinout Tmunity, after the institution backed a $100m close in January.
Tmunity Therapeutics, a US-based immunotherapy spinout from University of Pennsylvania, grew its series A round to $135m yesterday after securing a $35m extension from Kleiner Perkins Caufield and Byers and unnamed affiliates.
The spinout secured a $100m initial tranche in January 2018 from investors including University of Pennsylvania and Parker Institute for Cancer Immunotherapy.
The first close also featured biopharmaceutical firm Gilead Sciences, insurance provider Ping An, pharmaceutical company Eli Lilly and cellular research company Be The Match BioTherapies.
Ping An and Eli Lilly invested through their respective corporate venturing units Ping An Ventures and Lilly Asia Ventures.
Tmunity is working on immunotherapies that are initially focused on cancer, though the technology also has applications in other areas such as infectious and autoimmune diseases. Its approach relies on engineered T cells – white blood cells that trigger immune responses.
The company emerged out University of Pennsylvania and is based on research led by Carl June, the Richard Vague professor in immunotherapy in the Perelman School of Medicine.
The additional capital will enable Tmunity to further drive its business and expand its operational structure in order to translate, develop and manufacture its portfolio around cancer treatments.
Lilly Asia Ventures, together with University of Pennsylvania’s medical centre Penn Medicine, previously invested $10m in 2016.
Usman Azam, president and chief executive of Tmunity, said: “We welcome Kleiner Perkins and affiliates to an impressive list of committed investors who share in our vision to provide novel cell and gene therapy approaches and next-generation personalised treatments for patients.
“We are proud of this significant financial raise and enthusiastic about the prospects ahead for our company.”
