Tencent backs new raise that takes T-Therapeutics Series A to $91m
Chinese multinational technology conglomerate Tencent and UK fund BGF, which has Cambridge offices, were new investors. They joined a syndicate which features all existing major shareholders Sofinnova Partners, F-Prime, Digitalis Ventures, Cambridge Innovation Capital, Sanofi Ventures and the University of Cambridge Venture Fund.
T-Therapeutics will use the additional proceeds to drive its pipeline of first-in-class TCR-CD3 bispecifics across oncology and autoimmune diseases towards the clinic, including the further exploration of new therapeutic strategies such as T cell subset depletion.
T-Therapeutics’ lead asset in oncology exploits a pan-tumour driver target, applicable across multiple different solid tumour types. Its lead immunology programme is a pan-autoimmune bispecific designed for precision immune reset, achieved by the selective depletion of pathogenic immune cells.
Based in Shenzhen. Tencent is one of the highest grossing multimedia companies in the world based on revenue. It is also the world's largest company in the video game industry based on its equity investments.
Theodora Harold, Chief Executive Officer of T-Therapeutics, said: “Our transformative medicines tackle upstream disease-drivers that can have pan-indication impact. We are delighted to have significantly added to our Series A financing, which we see as a strong validation of both our technology and our progress to date. I would like to thank Tencent and BGF for their belief in our potential, as well as all our existing investors for their continued support.”
T-Therapeutics’ TCR platform, OpTiMus®, can generate an almost unlimited repertoire of high specificity, fully human TCRs, enabling access to validated, but previously undruggable, intracellular targets. The company also leverages its proprietary next-generation CD3 T cell engagers (TCEs), which have been engineered for high potency, superior safety and favourable pharmacokinetics.
OpTiMus-derived TCRs are combined with the proprietary TCEs to form first-in-class bispecific drug candidates. T-Therapeutics’ pipeline is focused on upstream disease-drivers with pan-indication potential to deliver significant clinical benefit for patients.
Luke Rajah, Partner at BGF, said: "This is a leadership team with an outstanding track record of building successful drug discovery businesses and translating science into medicines. Backed by a syndicate of world-class life sciences investors, T-Therapeutics is uniquely positioned to unlock previously undruggable targets with its first-in-class bispecifics. We are proud to support the team and help catalyse their programmes towards the clinic.”
