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Pan Cancer T secures €4.25 Million in Seed Extension Round to advance next-generation T cell therapies

ROTTERDAM, the Netherlands, July 11, 2024 (GLOBE NEWSWIRE) -- Pan Cancer T B.V., a pioneering biotech start-up developing next-generation T cell therapies for solid cancer treatment, has successfully closed a €4.25 million Seed Extension round. This round includes a new investor InnovationQuarter and continued support from existing investors: Van Herk Ventures, Thuja Capital, Swanbridge Capital and Erasmus MC O&O Holdings, bringing Pan Cancer T’s total funding to approximately €11 million. As a result, Investment Manager of InnovationQuarter Nina Satih will take a Supervisory Board observer role.

The Seed Extension Round will allow Pan Cancer T to complete preclinical studies for its lead TCR-T cell product, PCT1:CO-STIM, and progress CMC activities, thereby creating value and derisking the project. The funding will also support progression of earlier-stage pipeline projects targeting colorectal and ovarian cancers and the development of a second next generation engineering approach.

“We are delighted to have closed this financing round with the support of InnovationQuarter and our existing investors,” says Rachel Abbott, CEO of Pan Cancer T. “This enables us to advance our lead product toward the clinic, offering new hope for patients with triple negative breast cancer. It also provides a firm foundation to secure a Series A round within the coming year and seek business development partnerships with Biotech and Pharma collaborators to further develop our assets, including our TCR:CO-STIM platform that is applicable to other TCRs and tumour indications.”

“InnovationQuarter is proud to invest in Pan Cancer T, contributing to the development of state-of-the-art cell therapies to combat hard-to-treat cancers”, says Kees Recourt, Senior Investment Manager at InnovationQuarter. “This investment not only supports the company but also strengthens the entrepreneurial Life Sciences and Health cluster in the Province of Zuid-Holland”.

About the science and technology
While adoptive T cell therapies have shown curative potential in blood cancers, their effectiveness in solid cancers remains constrained. A lack of solid cancer-specific targets limits the number of eligible patients, and the highly suppressive nature of the solid tumour microenvironment (TME) further limits the duration of clinical responses. Pan Cancer T, originating from Prof. Reno Debets’ lab at Erasmus Medical Center, provides solutions to these two major challenges.

Pan Cancer T’s lead clinical candidate, PCT1:CO-STIM, features an IP-protected T cell receptor (TCR), generated with the company’s validated TCR discovery platform, which is highly specific for ROPN1, a novel tumour-restricted target strongly expressed in over 90% of patients with triple negative breast cancer and melanoma. Moreover, it incorporates a proprietary TME solution, which provides co-stimulation to T cells, even in the hostile TME, resulting in significantly improved response duration in preclinical models.

About Pan Cancer T
Pan Cancer T was founded in late 2020 as a spin-off from Erasmus MC (Rotterdam, the Netherlands) to advance next generation TCR T cell therapies for hard-to-treat solid tumors. The Company’s approach includes two differentiating elements. First, it exploits unique targets for T cells that are exclusively and robustly expressed by multiple solid cancers. Second, it develops technologies that enhance the durability of the T cells. The Company has ongoing R&D programs to develop safe and effective adoptive T cell therapies amenable to large cohorts of patients with triple negative breast cancer as well as cancers of the bladder, ovarium, colorectum, prostate, skin, esophagus, lung, or brain. For more information, please visit: www.pancancer-t.com

About InnovationQuarter
Zuid-Holland is rich with entrepreneurs who have innovative technological ideas. Ideas that can make the region smarter, more sustainable and healthier, and can help advance the world. As the regional development agency, InnovationQuarter helps these innovative companies bring their business ideas to market and further develop them. With a combination of funding, extensive knowledge across multiple sectors, a very broad network and great involvement, we create strong, innovative ecosystems. With four funds, we invest in and support innovative, fast-growing local enterprises, as well as assist foreign companies in establishing themselves in this region. We also assist with access to networks, venture development and internationalization. Together, we let ideas grow. InnovationQuarter is an initiative of several government institutions and leading knowledge institutes.

Contact Pan Cancer T
Marconistraat 16
3029 AK, Rotterdam
the Netherlands
rachel.abbott@pancancer-t.com

Media Inquiries

Scius Communications  
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Tel: +44 7789 435 990
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By: GlobeNewswire - 11 Jul 2024
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