Cell Medica gets £50 million funding
pharmafile | November 26, 2014 | News story | Research and Development, Sales and Marketing | CMD-003, Cancer, Imperial Innovations, Invesco Perpetual, Woodford Investment Management, celk medica
Cellular immunotherapy development firm Cell Medica has confirmed the completion a £50 million investment round from key backers to progress its cancer disease offerings.
Imperial Innovations, Invesco Perpetual and Woodford Investment Management have all clubbed together to help progress Cell Medica’s cellular immunotherapy products – which they hope will yield the potential to transform the treatment of cancer and other infectious diseases.
The firm’s lead oncology product, CMD-003, is under investigation in a Phase II clinical trial for the treatment of patients with advanced lymphomas associated with the Epstein Barr virus.
Comprised of the patient’s own immune cells, the company says CMD-003 offers the potential for a targeted approach to cancer treatment with very limited side effects or toxicities.
Gregg Sando who is Cell Medica’s chief executive, says: “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.
“[This] financing will enable the company to launch and complete the CITADEL Phase II clinical trial as an important step towards regulatory approval both in the US and Europe.”
Imperial Innovations director of Healthcare Ventures, Maina Bhaman, adds: “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.”
Brett Wells
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