Bio-Pharma Startup Adicet Bio Raises $80 Million

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Adicet Bio, a Menlo Park, CA based biopharmaceutical startup, announced it raised new funding to continue its operations.

The company raised $80 million in Series B financing from a variety of investors including Regeneron Pharmaceuticals, aMoon2 Fund, Johnson & Johnson Innovation, OCI Enterprises, Inc. , KB Investment Co. Ltd, SBI JI Innovation Fund, Samsung Venture Investment Corp., Consensus Business Group, Handok, Inc and DSC Investment, Inc.

Also joining this funding are existing investors including OrbiMed, Novartis Venture Fund and Pontifax.

Adicet Bio’s core business is the development of allogeneic cell therapies for cancer using innovative gamma delta T cells.

“Gamma delta T cells are a highly promising, emerging modality for treating cancer,” said Anil Singhal, Ph.D. President and CEO of Adicet Bio, Inc.  in a statement. “This financing will permit Adicet to continue to develop our proprietary technology, to enter the clinic in Non-Hodgkin’s Lymphoma and to advance our solid tumor programs.  We are gratified with the support of the investment community.”

Yair Schindel, M.D., from aMoon Fund and a representative from Johnson & Johnson Innovation will be joining Adicet’s board of directors as part of the deal.