AvenCell Raises $112 Million in Series B
AvenCell Therapeutics, Inc., a pioneering company in the field of cell therapy, has raised $112 million in Series B financing to accelerate its development of both autologous and allogeneic switchable CAR-T cell therapies.
The financing round, led by global life sciences investor Novo Holdings, brings together a strong cohort of new investors, including F-Prime Capital, Eight Roads Ventures Japan, Piper Heartland Healthcare Capital, and NYBC Ventures.
AvenCell’s founding investor, Blackstone Life Sciences, also participated in the round, further strengthening the company's financial position as it looks to reshape the future of cancer treatment.
The fresh capital will fuel the ongoing clinical validation of AvenCell’s universal, switchable CAR-T cell therapy platform, which has the ability to be rapidly turned "off" and "on" even after being administered to patients.
This cutting-edge technology holds the potential to treat a range of hematologic malignancies more safely and effectively compared to conventional cell therapies.
AvenCell’s current clinical pipeline includes two notable assets: AVC-101, an autologous CAR-T cell candidate, and AVC-201, a CRISPR-engineered allogeneic CAR-T cell candidate.
Both candidates target the CD123 antigen, a marker prevalent on Acute Myeloid Leukemia (AML) cells, and are being evaluated in clinical trials for patients with relapsed or refractory AML, a disease with few existing treatment options.
"We are excited by the progress of our pipeline and believe our next-generation immunotherapies have the power to address significant unmet patient needs," said Andrew Schiermeier, Ph.D., CEO of AvenCell Therapeutics.
The new funding, he emphasized, will help advance therapies that can "transform the standard of care through switchable, adaptable, and readily available cell therapy treatments" for a variety of hard-to-treat cancers and autoimmune diseases. The support from Novo Holdings and other key investors will be instrumental in bringing these therapies closer to patients, Schiermeier added.
AvenCell’s platform isn’t just about improving treatment efficacy—it’s about increasing safety as well. The switchable technology allows for real-time modulation of CAR-T cell activity post-infusion, potentially addressing major safety concerns with current therapies. This flexibility gives clinicians unprecedented control, reducing the risk of complications that often arise with conventional CAR-T treatments.
The importance of this innovation isn’t lost on the company’s new investors. Michael Bauer, Ph.D., Partner at Novo Holdings, noted that AvenCell's technology represents a major advancement in cell therapy. “AvenCell’s universal switchable technology and CRISPR-engineered allogeneic platforms are first-of-its-kind and represent a step change in the field of cell therapy," Bauer said, adding that their investment reflects both confidence in AvenCell's assets and the future of cell therapies. Nihal Sinha, MB BChir, Partner at F-Prime Capital, echoed this sentiment, calling AvenCell’s switchable CAR-T platform a “paradigm shift” in how cell therapies are administered and controlled.
Founded in 2021 with backing from Blackstone Life Sciences, Cellex Cell Professionals, and Intellia Therapeutics, AvenCell has quickly positioned itself as a leader in the development of innovative, scalable cell therapy solutions. With headquarters in Watertown, Massachusetts, and additional R&D and manufacturing operations in Dresden, Germany, the company is poised to continue its rapid growth and global expansion.
Looking ahead, AvenCell has several pipeline candidates expected to enter the clinic over the next two years, further broadening its impact on the treatment landscape. As Schiermeier and the rest of the AvenCell team push forward, the company aims to build on its early clinical successes and drive a future where patients have access to more flexible, safer, and effective therapies.
