NEW YORK – AvenCell Therapeutics on Tuesday said it raised $112 million in a Series B financing to support clinical studies of CAR T-cell therapies for blood cancers.
Novo Holdings led the financing. Founding investor Blackstone Life Sciences also participated, along with new investors F-Prime Capital, Eight Roads Ventures Japan, Piper Heartland Healthcare Capital, and NYBC Ventures.
AvenCell is evaluating the autologous CAR T-cell candidate AVC-101 in a Phase I trial. AVC-101 targets the CD123 antigen, which is found on most acute myeloid leukemia cells. Investigators will administer AVC-101 to about 90 patients with relapsed or refractory acute myeloid leukemia and will track safety, tolerability, and response rates while establishing a recommended Phase II dose.
The Watertown, Massachusetts-based company developed its CAR T-cell candidates using a platform that allows the product to be switched on or off after it is given to the patient. Patients in the trial will receive AVC-101 in two parts: a cell therapy component and an antibody-based drug, TM123, which activates the CAR T-cell therapy.
AvenCell will also use the funds to advance the allogeneic CAR T-cell candidate, AVC-201.
"AvenCell's switchable CAR T platform represents a paradigm shift in cell therapy, offering unprecedented control over treatment dynamics," F-Prime Capital Partner Nihal Sinha said in a statement. "The ability to modulate CAR T-cell activity post-infusion could address critical safety and efficacy challenges in current therapies."