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ArsenalBio Secures $325M in Series C Funding, Backed by Nvidia and Regeneron

NextEdge Admin

05 Sep 2024

2 min 17 sec

ArsenalBio, a cell therapy biotech, has raised a substantial $325 million in a Series C funding round. New investors include ARCH Venture Partners, Regeneron Ventures, Nvidia’s venture arm NVentures, Milky Way Investments Group, Luma Group, and funds advised by T. Rowe Price Associates and Rock Springs Capital. Existing backers such as the Parker Institute for Cancer Immunotherapy, SoftBank Vision Fund 2, Bristol Myers Squibb (BMS), and others also participated.

The funding will support the development of ArsenalBio’s solid tumor candidates, which utilize a proprietary T cell technology. The company aims to enhance its discovery tools and manufacturing capabilities to create new cell therapies. CEO Ken Drazan highlighted that the promising results from initial clinical trials and preclinical studies have encouraged the company to expand its technology to address more cancer types. The funds will also drive innovation in T cell medicine.

ArsenalBio's pipeline includes candidates for ovarian, kidney, and prostate cancers, with additional solid tumor treatments under development through a partnership with BMS. In April, the company began dosing patients in a Phase I/II trial of AB-2100 for clear-cell renal cell carcinoma (ccRCC), seeking to address unmet needs in kidney disease.

Another lead candidate, AB-1015, is in Phase I trials for ovarian cancer. ArsenalBio also has a $70 million collaboration with Genentech, announced in 2022. The biotech last raised $220 million in a Series B round in September 2022.