AvenCell Raises $112 Million in Series B; Funding Led by Novo Holdings

Funding to accelerate clinical validation of AvenCell's proprietary Universal Switchable CAR-T cell therapy platform, for the treatment of a wide range of hematologic malignancies and auto-immune diseases New investors F-Prime Capital, Eight Roads Ventures Japan, Piper Heartland Healthcare Capital and NYBC Ventures join Novo Holdings alongside founding investor Blackstone Life Sciences Michael Bauer of Novo Holdings and Nihal Sinha from F-Prime Capital to join AvenCell's Board of Directors WATERTOWN, Mass. , Oct. 22, 2024 /PRNewswire/ -- AvenCell Therapeutics, Inc.

("AvenCell"), a leading clinical-stage cell therapy company focused on advancing both autologous and allogeneic switchable CAR-T cell therapies, today announced that it has raised $112 million in Series B financing. The financing was led by global life sciences investor Novo Holdings. New investors F-Prime Capital, Eight Roads Ventures Japan, Piper Heartland Healthcare Capital and NYBC Ventures also participated in the round alongside founding investor Blackstone Life Sciences.

As part of this financing, Michael Bauer , Ph.D., Partner, Venture Investments, Novo Holdings, and Nihal Sinha, MB BChir, Partner, F-Prime Capital will join AvenCell's Board of Directors.

This latest financing will support ongoing clinical validation of AvenCell's proprietary, switchable universal CAR-T cell therapy platform that generates CAR-T cells that can rapidly be turned "Off" and "On" even after they are administered to a patient. Th.