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Cell and Gene Therapy Firms Grab Over $11 Billion So Far in 2021

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ARLINGTON, Va. (PRWEB)

There has been at least $11.2 billion in announced financing for cell and gene therapy-related companies in 2021, according to Cell and Gene Therapy Business Outlook. The new newsletter, which tracks CGT companies, noted that funding is originating from external entities such as venture capital firms and government funds along with a few IPOs. The amount is generated from 84 deals involving financing.

Early in July, Intellia Therapeutics, Inc. announced the closing of an underwritten public offering raising approximately $690 million. The company is developing novel, potentially curative therapeutics using CRISPR/Cas9 technology. Goldman Sachs & Co. LLC, Jefferies, SVB Leerink, and Barclays acted as joint book-running managers for the offering.

Also In July, Caribou Biosciences announced its initial public offering. The size of the IPO has been set at 304M. Caribou announced July 12th that the first patient has been dosed in its open-label, multicenter ANTLER Phase I clinical trial (NCT04637763) to evaluate the company’s lead product candidate, CB-010, in patients with relapsed or refractory B cell non-Hodgkin lymphoma (r/r B-NHL).

Other recent deals the publication tracked included:

  • Redwood City, California / Research Triangle N.C.-based Kriya Therapeutics announced it closed 100B in Series B financing. By combining advances in computer science and vector biology, Kriya is developing its SIRVE™ (System for Intelligent Rational Vector Engineering) platform for de novo vector design, sequence modification and data analysis

  • Waltham, MA-based T Scan Therapeutics, Inc. announced the pricing of its initial public offering for gross proceeds of $100.0 million. The company’s lead liquid tumor TCR-T therapy candidates, TSC-100 and TSC-101, are in development for the treatment of patients with hematologic malignancies to eliminate residual leukemia and prevent relapse after hematopoietic stem cell transplantation. The company is also developing multiplexed TCR-T therapy candidates for the treatment of various solid tumors.

  • Isolere Bio, a spinout from Duke University whose technology aids biotechnology manufacturing, received $7 million dollars in seed funding from Northpond Ventures.

  • EcoR1 Capital and Farallon Capital Management provided Affinia Therapeutics $110 million in financing to further develop its proprietary gene therapy platform.

  • Talaris Therapeutics and Achilles Therapeutics announced raising $150 million and $176 million, respectively from IPOs this year.

  • Boundless Bio announced the closing of an oversubscribed $105 million for its ecDNA Harboring Oncogenes (ECHO™) companion diagnostic and related programs.

  • Haifa, Israel-based Pluristem Therapeutics Inc., received approximately $24 million from the European Investment Bank (EIB). The company is developing new product candidates for its PLX placenta-based cell therapy product candidate.

The average deal announced was pegged at $113 million by Cell and Gene Therapy Business Outlook, but there are smaller deals as well: CAMP4 Therapeutics, Rejuvenate Bio, and Adaptate Biotherapeutics received $48 million, $10 million and $18 million respectively in recent financing deals.

Cell and Gene Therapy Business Outlook is a new publication from Science and Medicine Group, which continuously tracks the deal activity of over 560 companies in cell and gene therapy. The publication also analyzes news of the day and scientific developments for business importance, and makes continuous assessments of the market for cell and gene therapy.

More information can be obtained at http://www.cellandgenetherapybusinessoutlook.com

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