Enara Bio has raised $32.5 million Series B financing supported by a syndicate of new and existing biotech investors. The organisation will use the proceeds to advance its pipeline of TCR-based immunotherapies against novel and differentiated Dark Antigen targets for solid tumours.
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Kevin Pojasek, President and CEO of Enara Bio, said: “We are delighted to have the backing of these sophisticated investors as we strive to develop novel immunotherapies that can provide durable clinical benefit for broad populations of cancer patients.
“Earlier this year, our EDAPT platform received strong external validation when Boehringer Ingelheim decided to exercise its option to license multiple Dark Antigens to develop off-the-shelf immunotherapies for lung cancer.
The fundraise we are announcing today, led by two new strategic investors, reflects the quality of our science and further underlines not only the groundbreaking potential of Dark Antigens, but also our internal pipeline of first-in-class immunotherapies.”
In connection with the financing, Enara Bio’s Board of Directors has been strengthened by the appointments of Rana Al-Hallaq, Partner at Pfizer Ventures, and Bauke Anninga, Investment Director at M Ventures.
Rana Al-Hallaq said: “Despite major breakthroughs in cancer immunotherapy over the last decade, only a minority of patients with solid tumours receive durable benefit from existing treatments. Dark Antigens may unlock the potential of immunotherapy for many additional patients with solid tumours, and we are pleased to support Enara’s development of this cutting-edge platform to discover and validate these previously untapped targets.”
Bauke Anninga, Investment Director at M Ventures, said: “We are pleased to co-lead this funding round as Enara’s EDAPT platform has already discovered a series of attractive Dark Antigen targets that are shared across solid tumour patients with high unmet needs. We have been impressed by Enara’s high calibre team and world-class expertise in developing TCR-based therapies.
We are excited at the progress already made building a pipeline of differentiated therapies that could provide transformational clinical benefit to patients who are poorly served by today’s cancer immunotherapies.”
Image provided by Enara Bio