ArsenalBio receives $325 million to advance cell therapy programs

ArsenalBio has successfully closed an oversubscribed Series C financing round, securing $325 million to advance its programmable cell therapy programs through clinical development. These funds will support the advancement of the company’s core programs and innovation in cell therapy tools and processes. The financing round attracted new investors such as ARCH Venture Partners, Luma Group, Milky Way Investments Group, NVentures, and Regeneron Ventures. Existing investors, including Bristol-Myers Squibb, Byers Capital, Hitachi Ventures, Kleiner Perkins, the Parker Institute for Cancer Immunotherapy, SoftBank Vision Fund 2, and Westlake Village BioPartners, also participated. The investment will drive the development of ArsenalBio's T-cell engineering technology, including logic gating, and further advance the pipeline of therapeutic candidates for solid tumors. These funds will support the development of tools and approaches that could lead to the discovery of new cell therapy candidates. ArsenalBio's pipeline includes potential therapies for ovarian, kidney, and prostate cancers, among other solid tumors. These assets are being co-developed in partnership with Bristol-Myers Squibb. Recent company milestones include the initiation of a Phase I/II study for its second T-cell product candidate, AB-2100, which targets clear cell renal cell carcinoma. AB-2100 previously received Fast Track designation from the U.S. Food and Drug Administration. Ken Drazan, co-founder, CEO, and Chairman of ArsenalBio, explained: "Our initial clinical trials and preclinical studies have shown the potential of our T-cell engineering approach and have given us the confidence to expand the application of our technology to additional cancer types. "This new investment allows us to continue our development strategy, expand our manufacturing capabilities, and explore new avenues of innovation in T-cell medicine.