Closing of a £50 million Series B investment round is announced with participation from Imperial Innovations, Invesco Perpetual and Woodford Investment Management.
London, UK – 25 November 2014: Cell Medica, a leading cellular immunotherapy company, today announced the closing of a £50 million Series B investment round with participation from Imperial Innovations, Invesco Perpetual and Woodford Investment Management.
Cell Medica will use the investment capital to progress further the development of cellular immunotherapy products with the potential to transform the treatment of cancer and infectious diseases. The Company’s lead oncology product, CMD-003, is under investigation in the CITADEL Phase 2 clinical trial for the treatment of patients with advanced lymphomas associated with the Epstein Barr virus. Comprised of the patient’s own immune cells, CMD-003 offers the potential for a targeted approach to cancer treatment with very limited side effects or toxicities.
Gregg Sando, Cell Medica’s Chief Executive Officer, commented, “Immunotherapy is one of the most exciting and fast-moving areas in cancer research right now, and Cell Medica is at the forefront of developing a new paradigm for the safe and effective treatment of patients with advanced lymphomas. The Series B financing will enable the Company to launch and complete the CITADEL Phase 2 clinical trial as an important step towards regulatory approval both in the US and Europe.”
Maina Bhaman, Imperial Innovations Director of Healthcare Ventures, commented: “Having been an investor at its formative stage, we are delighted with the progress Cell Medica has made in developing cellular immunotherapy products for the treatment of cancer. We are seeing a new generation of drug development aimed at activating the immune system against cancer and the Company is well-positioned with products which can be used in both monotherapy and combination regimens.”
Cell Medica is a cellular therapeutics company engaged in the development, manufacturing and marketing of cellular immunotherapy products for the treatment of cancer and infectious diseases. Cellular immunotherapy is a new form of medical treatment which has the potential to transform the treatment of cancer in the years ahead. The Company has recently opened a ground-breaking international CITADEL Phase 2 clinical trial exploring the therapeutic benefit of a novel cancer immunotherapy product for the treatment of advanced NK/T cell lymphoma. The financing for this trial was provided in part by the Cancer Prevention and Research Institute of Texas. The Company is targeting a range of cancer applications associated with the oncogenic Epstein Barr virus including lymphoma, leukaemia and nasopharyngeal carcinoma.
In the infectious disease field, Cell Medica is developing Cytovir CMV for the treatment of cytomegalovirus infections and Cytovir ADV for the treatment of adenovirus infections. Both applications are aimed at treating and preventing infections in patients who are profoundly immunosuppressed following a bone marrow transplant. The clinical development of Cytovir CMV has been funded in part by The Wellcome Trust.
Additional information can be found on the Company’s website.
Imperial Innovations Group plc creates, builds and invests in pioneering technologies developed from the academic research within the ‘Golden Triangle’ broadly bounded by London, Cambridge and Oxford, which is home to the UK’s four leading research-intensive universities.
This area is home to many new technology companies through its proximity to the academic communities of Imperial College London, the University of Cambridge, the University of Oxford and University College London, as well as other leading research institutions.
Imperial College London, the University of Cambridge, the University of Oxford and University College London collectively have research income of £1.4 billion per annum and are ranked as four of the top ten Universities in the world (source: QS World University Rankings 2014/15).
Innovations supports scientists and entrepreneurs in the commercialisation of their ideas through the licensing of intellectual property, by leading the formation of new companies, providing facilities in the early stages, providing investment and encouraging co-investment to accelerate development, providing operational expertise and recruiting high-calibre management teams. It also runs an incubator in London that is the initial home for many of its technology spin-outs.
Since admission of its shares to trading on AIM in 2006, Innovations has raised more than £346.0 million of equity from investors, which has enabled it to invest in some of the most exciting spin-outs to come out of UK academic research. In addition, the Group has a £30.0 million loan facility from the European Investment Bank (EIB) for investment in biotech and therapeutics businesses.
During the period from admission on AIM up until 31 July 2014, Innovations has invested a total of £176.0 million across its portfolio companies, which have raised collectively investment of £822.5 million.
Invesco Perpetual is part of Invesco Ltd, a leading independent global investment management firm, dedicated to helping investors worldwide achieve their financial objectives. By delivering the combined power of our distinctive investment management capabilities, Invesco provides a wide range of investment strategies and vehicles to our clients around the world. Operating in more than 20 countries, the firm is listed on the New York Stock Exchange under the symbol IVZ. Additional information is available at www.invesco.com.
Further information about Invesco Perpetual can be found at www.invescoperpetual.co.uk.
Woodford Investment Management is a fast-growing asset management company built on a founding philosophy of transparency and simplicity. Launched in May 2014, the company has more than £7.5bn assets under management and advice. Further information can be found at www.woodfordfunds.com.
Gregg Sando, CEO, Cell Medica Limited
+44 (0)20 7554 4070