€30m raised for first-in-class in vivo cell reprogramming platform

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Biotech Asgard Therapeutics has closed a €30 million Series A financing to support the development of its lead programme, AT-108.

The company plans to submit an Investigational New Drug (IND) application to the FDA for AT-108 by 2026, expand and reinforce its research and development team, and fuel new reprogramming modalities and delivery platforms to strengthen the pipeline.

The funding round was co-led by RV Invest and Johnson & Johnson Innovation – JJDC, with participation from existing investors Novo Holdings, Boehringer Ingelheim Venture Fund and Industrifonden.

AT-108 is a first-in-class, off-the-shelf gene therapy that directly reprogrammes tumour cells into antigen-presenting dendritic cells, ultimately leading to a personalised anti-tumour immune response.

The therapy has achieved preclinical proof of concept (PoC) in patient-derived ex vivo models as well as rodent in vivo models, inducing strong anti-tumour immunity and abscopal effect, even in a monotherapy setting.

Cristiana Pires, Co-founder and Chief Executive Officer of Asgard Therapeutics, said: “Asgard’s technology overcomes challenges faced by traditional cell therapies, enabling the recreation of desired functional immune cells directly inside the patient’s body. We believe this breakthrough strategy will give rise to the next generation of cell therapies. This financing also follows a strong pre-clinical package providing PoC for AT-108. We would like to thank both new and existing investors for their support as we discover and develop innovative immunotherapies with breakthrough potential and look forward to progressing our lead programme AT-108 to the clinic.”

Aleksei Zeifman, Investment Manager at RV Invest, and a representative from Johnson & Johnson Innovation – JJDC, will join Asgard’s board of directors. He added: “Asgard’s unique approach to cancer immunotherapy by using direct cell reprogramming has great potential to create personalised treatments at scale which could be used in many cancer indications.”

Diana Spencer, Senior Digital Content Editor, DDW

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