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news.Atreca has completed its Series A funding with a total investment of $56m.
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The proceeds will fund the further development and advancement of the Company’s product pipeline, including therapeutic antibodies designed to optimize anti-tumor immune responses in synergy with checkpoint inhibitors and immune activators.
The Series A was led by a large U.S.-based, healthcare-focused fund; additional investors included the Bill & Melinda Gates Foundation, Mission Bay Capital, and GlaxoSmithKline.
Atreca CEO and co-founder Tito Serafini said: "A patient’s own anti-cancer immune response is the key phenomenon driving the exciting clinical outcomes seen with checkpoint inhibitors and other immune activators.
"With Atreca’s proprietary and validated technology, we can now capture and analyze effective anti-cancer immune responses in an unprecedented manner, enabling the discovery and development of therapeutics designed to drive more robust and focused anti-tumor immune responses as a next wave of cancer immunotherapeutics."
Atreca co-founder and Board member William Robinson said: "Atreca’s technology has the potential to create a broad proprietary position within the immuno-oncology market, which is currently about $2.3 billion and is expected to grow to nearly $30 billion by 2025. By enabling differentiated, next-generation anti-tumor therapies, we expect Atreca to play a major role in the growth of this therapeutic category. This financing will accelerate Atreca’s momentum and advance its pipeline."
The Bill & Melinda Gates Foundation president of global health Trevor Mundel said: "We are pleased to support Atreca’s efforts to improve human health.
"The Bill & Melinda Gates Foundation believes that Atreca’s technology potentially has broad application for the treatment and prevention of infectious diseases that disproportionately affect the poorest people in the world, such as HIV, malaria, and tuberculosis."
Brookline Group LLC acted as exclusive placement agent during the Series A financing. Certain investors participated in the Series A by conversion of prior debt investment.