October 2, 2019 / 8:06 PM / 2 months ago

Adicet Bio raises $80 million to develop cancer cell therapies

TEL AVIV (Reuters) - Adicet Bio Inc, a biopharmaceutical company focused on the development of cancer therapies using gamma delta T cells, said on Wednesday it raised $80 million in private funding. “This financing will permit Adicet to continue to develop our proprietary technology, to enter the clinic in non-Hodgkin’s lymphoma and to advance our solid tumor programs,” Adicet CEO Anil Singhal said.

New investors include Israel’s aMoon2 Fund, Regeneron Pharmaceuticals, Johnson & Johnson Innovation and Samsung Venture Investment Corp. All existing investors including OrbiMed, Novartis Venture Fund and Pontifax also participated in the financing.

Based in California, Adicet was founded by Israel’s Aya Jakobovits based on research conducted in Israel.

Reporting by Tova Cohen

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