Healthcare Industry News: ImmPACT Bio USA
News Release - August 18, 2020
ImmPACT Bio USA Inc. Raises $18 Million In Series A FinancingCompany is creating innovative cellular therapeutics for solid tumors
CAMARILLO, Calif., Aug. 18, 2020 -- (Healthcare Sales & Marketing Network) -- ImmPACT Bio USA Inc., a company founded in the FutuRx incubator located in Ness Ziona, Israel, developing novel cell therapies for treating cancer, today announced the closing of a US$ 18 million equity financing round. The financing included OrbiMed, Johnson & Johnson Innovation – JJDC, Inc., Takeda Ventures, Inc., RM Global Partners (RMGP) BioPharma Investment Fund, Novartis Venture Fund, Bukwang Pharmaceutical, Hayan Health Networks, Inc., and JVC Investment Partners.
Founder Prof. Gideon Gross explains ImmPACT's origins by observing, "Engineered cells have progressed tremendously in lymphomas and leukemias, in large part because lymphocytes have very selective targets. We will need new targeting strategies to tackle solid tumors, as few selective targets have been discovered, and antigens are almost always shared by indispensable tissues." Prof. Gross ultimately realized that, "Many solid tumors demonstrate genetic losses due to abnormal chromosomal maintenance – a fact that can be utilized to design new types of cellular immuno-oncology drugs."
"We have built a world-class team and a promising pipeline to realize Prof. Gross' vision of targeting loss-of-gene features of solid tumors. We look forward to working with our investors to advance this pipeline and make the company a success," said Rick Kendall, Ph.D., CEO of ImmPACT Bio USA Inc.
About ImmPACT Bio
ImmPACT Bio USA Inc. is a cell therapy company aiming to develop potent and selective engineered T-cells for the treatment of solid tumors. The company was founded based on the research of Prof. Gideon Gross of the Migal Research Institute and has been incubated in the FutuRx incubator since 2017. The Company's technology enables targeting loss-of-gene features of solid tumor cells, sparing normal, healthy tissues.
Source: ImmPACT Bio USA
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