ArsenalBio Secures $325 Million in Series C Funding to Advance CAR T-Cell Therapies for Solid Tumors

Key Insights

• Arsenal Biosciences has raised $325 million in Series C funding to progress its CAR T-cell therapies targeting solid tumors, demonstrating strong investor confidence.
• The funding will support the advancement of ArsenalBio's pipeline, including AB-1015 for ovarian cancer and AB-2100 for kidney cancer, both currently in Phase I clinical trials.
• ArsenalBio's T-cell engineering platform utilizes synthetic biology to genetically program T cells, enhancing their ability to target and destroy solid tumors.

Arsenal Biosciences (ArsenalBio) has announced the successful completion of a $325 million Series C financing round, earmarked for advancing its pipeline of CAR T-cell therapies focused on solid tumors. The substantial investment underscores growing confidence in ArsenalBio's T-cell engineering platform and its potential to address unmet needs in cancer treatment.

The financing round saw participation from new investors including ARCH Venture Partners, Milky Way Investments Group, Regeneron Ventures, NVentures, Luma Group, funds and accounts advised by T. Rowe Price Associates, and Rock Springs Capital, alongside existing investors such as Parker Institute for Cancer Immunotherapy, SoftBank Vision Fund 2, Bristol Myers Squibb, Westlake Village BioPartners, Kleiner Perkins, Byers Capital, and Hitachi Ventures.

Clinical Programs in Focus

ArsenalBio is currently focusing on two key clinical programs: AB-1015 for platinum-resistant ovarian cancer and AB-2100 for clear-cell renal carcinoma. AB-1015 is undergoing a Phase I trial (NCT05617755) initiated in January 2023, while AB-2100 entered a Phase I/II trial (NCT06245915) in April, targeting patients who have relapsed or are refractory to checkpoint and VEGF inhibitor therapies.

T-Cell Engineering Platform

At the heart of ArsenalBio's approach is its proprietary T-cell engineering platform. This platform leverages synthetic biology to genetically reprogram a patient's T cells, enhancing their ability to recognize and destroy solid tumors. The company believes this approach can overcome limitations of traditional CAR T-cell therapies in solid tumors, such as limited penetration and immunosuppressive tumor microenvironments.

Leadership Perspective

"Our initial clinical trials and preclinical studies have shown the promise of our T-cell engineering approach and have given us the confidence to broaden the application of our technology to address additional cancer types," said Ken Drazan, CEO of ArsenalBio. "This new investment enables us to continue our development roadmap, scale up our manufacturing capabilities, and invest in new avenues for innovation in T-cell medicine."

Prior Funding

ArsenalBio previously raised $220 million in a Series B financing round in September 2022 and $85 million in a Series A in October 2019, demonstrating consistent investor interest in its innovative approach to cancer immunotherapy.