Umoja secures $100m to advance CAR-T cell therapy pipeline
Summary
Umoja Biopharma has announced the closing of an oversubscribed $100m Series C financing round, which will enable the company to progress its in vivo chimeric antigen receptor (CAR)-T cell therapy pipeline.Double Point Ventures and DCVC Bio jointly led the round, with participation from existing and new investors including ARK Invest, MPM Capital, Cormorant Asset Management, Qiming Venture Partners USA and Alexandria Venture Investments.Proceeds from the round will help propel the advancement of the companys lead CD22 UB-VV400 programme in several oncology and autoimmune clinical trials.Umoja Biopharma co-founder and CEO Andrew Scharenberg stated: We are pleased to announce the closing of our Series C financing with tremendous support from both new and existing investors who recognise Umojas potential to develop the industrys first in vivo CAR T cell generating therapies all in the hopes of increasing effectiveness, reducing barriers and expanding access to CAR T cell therapies.Senior adviser at Double Point Ventures, Dr Campbell Murray has been appointed as a new member of Umojas board of directors. Dr Phil Low of Purdue University will serve as chair of the companys scientific advisory board and has been transitioned to the role of board observer.Murray said: It is an honour to co-lead this transformative investment round and to join Umojas board of directors.Umojas groundbreaking work on in vivo CAR T cell therapies represents a new frontier in oncology and autoimmune treatment.Umoja Biopharma is engaged in the development of in vivo cell therapies. The companys VivoVec in vivo gene delivery technology is designed to enable patients own immune systems to combat disease.In January 2024, the company established a strategic partnership with AbbVie, aiming to develop new in-situ CAR-T cell therapy candidates targeting oncology indications. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.