Vancouver’s Notch Therapeutics has closed a USD $85 million Series A financing led by an exclusively healthcare-focused investment fund, with participation by existing investors including Vancouver’s Lumira Ventures.
Notch is developing renewable, stem cell-derived immunotherapies, with an initial focus on cancer.
Proceeds from the financing will support the continuing development of Notch’s portfolio of iPSC-derived T cell therapeutic product candidates and clinical readiness of the company’s proprietary Engineered Thymic Niche (ETN) platform.
The financing will also enable Notch to expand its team to support the company’s future growth, including establishing operations in Seattle, in addition to the company’s existing operations in Vancouver and Toronto.
“We are gratified to have the confidence of this exceptional group of investors and have them share in our vision that our platform can be game-changing for cell therapies by easing cell manufacturing and broadening their clinical and commercial potential,” said David Main, President and Chief Executive Officer of Notch.
“The level of interest in this financing round enabled us to far exceed our original capital-raising goals. With this support, Notch is well positioned to support our partners and advance development of our initial cell therapy products for patients with cancer.”