Cambridge, England – CellCentric, a biotechnology firm focused on developing cancer therapies, has successfully secured £90 million in a Series C funding round aimed at advancing its innovative treatment for multiple myeloma, known as inobrodib.
The funding round was co-led by RA Capital Management and newcomer Forbion, with additional investment from Avego Bioscience Capital and BrightEdge, the venture capital arm of the American Cancer Society. This latest infusion of capital will assist in propelling CellCentric’s efforts in bringing inobrodib further along its development path.
Despite advancements in treatment options, multiple myeloma continues to be a challenging disease, with many patients facing grim outcomes. A significant portion of those affected either do not qualify for the latest therapies or develop resistance to them. Inobrodib introduces a unique oral delivery method and a novel therapeutic mechanism that positions it as a viable alternative in treatment regimens.
“We are excited to secure funding that will allow us to fully advance inobrodib,” said Will West, the CEO of CellCentric. He emphasized the importance of the investment in a difficult financial climate, highlighting the promising data supporting their treatment, the clear market opportunity, and the commitment of their growing team.
Jasper Bos, general partner at Forbion, who is also joining CellCentric’s board, underscored the potential for inobrodib, citing encouraging efficacy and manageable safety in initial clinical trials. He expressed optimism about supporting CellCentric’s progression toward registration studies, which could reshape treatment approaches for multiple myeloma at various disease stages.
The company has made noteworthy strides in its commercial journey, including an initial $35 million investment from RA Capital last year and a subsequent $25 million investment from Pfizer. Recently, CellCentric expanded its operations by opening a new office in Burlington, Massachusetts, signifying its commitment to building a global footprint and enhancing its team.
With the fresh capital, CellCentric aims to navigate the complexities of drug development and bring inobrodib to the forefront of cancer treatment, offering hope to many patients facing this formidable disease.