RE:CAR-T updateSeptember 03, 2024 - Arsenal Biosciences, the CAR-T cell therapy company has added on $325 million in ammunition with big-name backers like Regeneron joining the artillery as the biotech sets out to build the biggest—and best—house on the block.
The oversubscribed series C fundraise includes new investors Regeneron Ventures, Arch Venture Partners and NVIDIA’s NVentures, among others, according to a Sept. 4 release. The financing round is one of the largest private biotech financing of the year, coming up behind Xaira Therapeutics' $1 billion, Mirador Therapeutics’ $400 million and Formation Bio’s $372 million.
New investors included ARCH Venture Partners, Milky Way Investments Group, Regeneron Ventures, NVentures (NVIDIA’s venture capital arm), Luma Group, funds and accounts advised by T. Rowe Price Associates, Inc. and Rock Springs Capital, among others. Ongoing support from existing investors the Parker Institute for Cancer Immunotherapy, SoftBank Vision Fund 2, Bristol-Myers Squibb Company, Westlake Village BioPartners, Kleiner Perkins, Byers Capital and Hitachi Ventures.
“What investors are looking for is unambiguous signals that they're investing at the right time and that they can make money with the company's success at any valuation,” ArsenalBio CEO and co-founder Ken Drazan, M.D explained.
https://www.fiercebiotech.com/biotech/arsenalbio-raises-325m-solid-tumor-car-t-science-regeneron-and-bms-tow