Pan Cancer T Extends Seed Financing Round with Additional Funding from Existing Shareholders and New Investor Thuja Capital
- Category: More News
- Published on Thursday, 28 October 2021 10:20
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- Expanded investor syndicate strengthens the company’s financial position and investor base
ROTTERDAM, The Netherlands I October 28, 2021 I Pan Cancer T B.V., a biotech spin-off from the Erasmus MC dedicated to the discovery and development of novel TCR-T therapies against solid tumors, announced today the closing of an extended seed investment round. All current shareholders participated in the round, with Thuja Capital joining as a new investor. The undisclosed proceeds add to the initial seed capital financing announced earlier this year. The Company’s syndicate of experienced life science venture capital investors now includes Van Herk Ventures, Swanbridge Capital, and Thuja Capital as well as founding shareholder Erasmus MC.
Katrien Reynders-Frederix, CEO of Pan Cancer T, said: "Despite certain successes of adoptive cell therapies like the Chimeric Antigen Receptor (CAR) T cell therapy, the vast majority of solid cancers remains refractory to such treatments. TCR-T cell therapy is a novel, promising option that has demonstrated significant clinical benefits in patients with various solid tumors. Thanks to the extended seed round and the continuous support of our investors we will be able to further advance our lead program and strengthen our pre-clinical assets. Next, we will be preparing to raise a Series A financing round to advance our lead program into the clinic.”
Michel Briejer, Investment Manager at Thuja Capital added: "Since we identified Pan Cancer T as an investment opportunity, we have been deeply impressed by the quality of the science, the team and its advisers. We are thrilled to join the shareholder base and take a seat on the Supervisory Board to help and support Pan Cancer T towards the success it is bound for."
Dharminder Chahal, Investment Manager at Van Herk and Swanbridge Capital, said: “I am pleased to see that Pan Cancer T made such a progress within only one year after its foundation. I am convinced that the company will continue this high pace of development through this additional investment.”
Prof. Chris Bangma, Professor of the Department of Urology at Erasmus University Medical Centre in Rotterdam, stated: “Erasmus MC valorizes the development of novel therapeutic treatment options for its patients. The results of immune therapy in various tumors are beyond expectations. Many patients may benefit from the carefully designed new immunologic approaches and evaluation in the clinic. Hence, Erasmus MC is pleased to support Pan Cancer T on this journey.”
About Pan Cancer T
Pan Cancer T was founded in late 2020 and as a spin-off from Erasmus MC (Rotterdam, the Netherlands) to advance first-in-class TCR T-cell therapies for hard-to-treat solid tumors. The Company’s approach includes three differentiating elements. First, it exploits unique targets for T-cells that are exclusively expressed by multiple solid cancers. Second, it applies innovative technologies to select naturally occurring and highly specific TCRs that recognize these targets. Third, it develops therapies that overcome the tumor micro-environmental challenges in the targeted cancers. The Company has ongoing R&D programs to develop safe and effective adoptive T cell therapies amenable to large cohorts of patients with triple negative breast cancer as well as cancers of the bladder, ovarium, colorectum, prostate, skin, esophagus, lung, or brain. For more information, please visit: www.pancancer-t.com
About Swanbridge Capital
Swanbridge Capital is an early-stage venture capital fund that is focused on (pre-)seed investments in the life sciences industry. The fund invests in the development of novel therapies, diagnostics and medical devices. Swanbridge Capital was founded in 2016 and is based in Rotterdam, the Netherlands. For more information: www.swanbridgecapital.nl
About Van Herk Ventures
Van Herk Ventures is part of the Rotterdam-based Van Herk Groep and holds a portfolio of investments in real estate, energy and life sciences. The Van Herk Groep invests in the life sciences sector through direct investments in private and listed companies and in venture capital funds. Major investments include Galapagos, Zealand Pharma, BioInvent, DCprime, Ablynx (sold to Sanofi), and Crucell (sold to J&J). For more information: www.vanherkgroep.nl/beleggingen
About Erasmus Medical Center
Erasmus MC is the largest University Medical Center in the Netherlands. Erasmus MC’s primary goal is the establishment and maintenance of a healthy population. Nearly 14,000 employees devote themselves to providing outstanding care, facilitating world-class education and conducting pioneering research. These professionals are instrumental in developing expertise on health and illness. They link the latest scientific insights to practical treatments and prevention measures, thereby providing maximum benefit to patients and at the same time enable people to live healthier lives. For more information: www.erasmusmc.nl
About Thuja Capital
Thuja Capital Management (Thuja) manages several venture capital funds aimed at building and scaling companies in the fields of (bio)pharmaceuticals, medtech and digital health. In addition to generating a financial return for its investors, Thuja’s investments positively impact the health and well-being of patients. Thuja serves physicians and patients worldwide by providing capital to daring entrepreneurs with ground-breaking product concepts locally. For more information visit www.thujacapital.com.
SOURCE: Pan Cancer T