Funds will support the development of Shinobi's lead iPS-T cell program targeting GPC3+ tumors. Shinobi also expands its investor syndicate, with the addition of Yosemite and Mitsubishi UFJ Capital, bringing the company's total funding to $119M . SAN FRANCISCO and KYOTO, Japan , Aug.
6, 2024 /PRNewswire/ -- Shinobi Therapeutics, the biotechnology company developing a new class of immune evasive iPS cell therapies, today announced that it has been awarded up to $59M in non-dilutive grant funding by the Japanese Agency for Medical Research and Development (AMED). The grant will be used to support the development of Shinobi's lead program, an iPS-T cell therapy targeting GPC3+ solid tumor cancers. "AMED is one of the leading institutions worldwide for supporting breakthroughs in medicine and biotechnology, and this grant is a significant vote of confidence in Shinobi's technology," said Yasumichi Hitoshi, M.
D., Ph.D.
, Chief of Staff and Shinobi Japan's Representative Director. "We are thrilled to have the support of AMED as we work toward realizing the therapeutic potential of iPSCs." Shinobi also announced an extension of its Series A round , bringing the company's total funding to $119M , with the addition of Yosemite and Mitsubishi UFJ Capital as investors.
Cell therapies have successfully been used to treat blood cancers and other intractable diseases, but manufacturing costs continue to render these therapies inaccessible to many patients around the world. Shinobi's immune .