On October 28, 2021 Pan Cancer T B.V., a biotech spin-off from the Erasmus MC dedicated to the discovery and development of novel TCR-T therapies against solid tumors, reported the closing of an extended seed investment round (Press release, Pan Cancer T, OCT 28, 2021, https://pancancer-t.com/2021/10/28/pan-cancer-t-extends-seed-financing-round-with-additional-funding-from-existing-shareholders-and-new-investor-thuja-capital/ [SID1234592114]). All current shareholders participated in the round, with Thuja Capital joining as a new investor. The undisclosed proceeds add to the initial seed capital financing announced earlier this year. The Company’s syndicate of experienced life science venture capital investors now includes Van Herk Ventures, Swanbridge Capital, and Thuja Capital as well as founding shareholder Erasmus MC.
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Katrien Reynders-Frederix, CEO of Pan Cancer T, said: "Despite certain successes of adoptive cell therapies like the Chimeric Antigen Receptor (CAR) T cell therapy, the vast majority of solid cancers remains refractory to such treatments. TCR-T cell therapy is a novel, promising option that has demonstrated significant clinical benefits in patients with various solid tumors. Thanks to the extended seed round and the continuous support of our investors we will be able to further advance our lead program and strengthen our pre-clinical assets. Next, we will be preparing to raise a Series A financing round to advance our lead program into the clinic."
Michel Briejer, Investment Manager at Thuja Capital added: "Since we identified Pan Cancer T as an investment opportunity, we have been deeply impressed by the quality of the science, the team and its advisers. We are thrilled to join the shareholder base and take a seat on the Supervisory Board to help and support Pan Cancer T towards the success it is bound for."
Dharminder Chahal, Investment Manager at Van Herk and Swanbridge Capital, said: "I am pleased to see that Pan Cancer T made such a progress within only one year after its foundation. I am convinced that the company will continue this high pace of development through this additional investment."
Prof. Chris Bangma, Professor of the Department of Urology at Erasmus University Medical Centre in Rotterdam, stated: "Erasmus MC valorizes the development of novel therapeutic treatment options for its patients. The results of immune therapy in various tumors are beyond expectations. Many patients may benefit from the carefully designed new immunologic approaches and evaluation in the clinic. Hence, Erasmus MC is pleased to support Pan Cancer T on this journey."