Drug Research
Drug Discovery & Development

Autolus secures $80m series C funding

Published 27 September 2017

Autolus, a clinical-stage biopharmaceutical company focused on the development and commercialisation of next-generation engineered T-cell therapies, announced that it closed on a $80m (£59m) series C financing.

New investors Cormorant Asset Management, Nextech Invest and others joined founding investor Syncona Ltd, Woodford Investment Management and Arix Bioscience in this Series C round.

The funds will enable Autolus to establish clinical proof of concept for three programs: AUTO2 in multiple myeloma, AUTO3 in diffuse large B cell lymphoma and paediatric acute lymphoblastic leukaemia and AUTO4 in T-cell lymphoma.

In addition, building on its advanced cell programming technologies Autolus plans to advance its pre-clinical pipeline products for solid tumour indications, and will set up the infrastructure required for bringing a CAR-T cell therapy rapidly and successfully to market.

Autolus chairman and CEO Dr Christian Itin said: “We welcome our new shareholders and the continued support of our existing investors, and are looking forward to delivering on the exciting promise of our growing pipeline of engineered T cell product candidates.

“Since our inception three years ago, Autolus has made substantial progress with two dual targeting programs in three clinical studies, a novel program for T-cell lymphoma’s clinic ready and a unique suite of cell programming technologies established for use in haematological and solid cancers.

“With the new financing we are well on our way to building a premier fully integrated Oncology Company that harnesses the unique power of T cells to combat cancer.”

Cormorant Asset Management CEO Bihua Chen said: “The upcoming commercial launches of the first generation of CAR-T products herald an important advance in the treatment of cancer.

“We are excited to be part of a company that is poised to be at the forefront of the next revolution in this field. We are impressed by Autolus’ advanced cell programming and manufacturing capabilities, and a team which we believe has the ability to deliver the full potential of these potentially life-changing therapies in both haematological and solid cancers.”

The Series C follows the £70 million Series A and B financings.

Source: Company Press Release