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Cell Medica's £60m Series C has potential to 'transform' cancer treatment

London-based Cell Medica, the cellular therapeutics company developing treatments for cancer, has closed its £60m Series C round.

Existing investors Touchstone Innovations, alongside funds managed by Invesco Perpetual and Woodford Investment Management have all contributed to the round which will help to continue Cell Medica’s work in designing and developing immunotherapy products.

The company, which was founded in 2005, is currently developing three products which Touchstone claim have the potential to ‘transform’ cancer treatment in the coming years.

Its key oncology product, baltaleucel-T CMD-003, is an investigatory treatment currently undergoing Phase 2 clinical trials that activates a patient’s T cells which help to kill malignant cells. Further products are also due to be brought to Phase trials thanks to this latest funding.

Gregg Sando, Cell Medica’s Chief Executive Officer, commented: “With the strong support of our key shareholders, Cell Medica will implement the next phase of our development programme, bringing a new generation of cell-based immunotherapy products into Phase 1 clinical trials as well as completing our Phase 2 programme for baltaleucel-T.

“This funding enables us to continue our efforts to unlock the full potential of cellular immunotherapy for the benefit of cancer patients.”

Russ Cummings, Chief Executive Officer at Touchstone Innovations, said: “Over the last six months or so Cell Medica has significantly broadened its product portfolio through striking new partnerships with Baylor College of Medicine and UCL, and through the acquisition of Delenex Therapeutics.

“The business now has a pipeline addressing both liquid and solid cancers and this new funding will put it in a great position to drive forward these development programmes.”

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