Financing to Progress Lead Therapeutic to Clinic

Following progress made by the company over the past 18 months, Adaptate Biotherapeutics (Adaptate), a developer of antibody-based therapeutics for modulation of gamma delta T cells, announced that its existing investors, Abingworth and Takeda Pharmaceutical Company Limited (Takeda), have together made a further equity investment of $18 million (circa. £13 million).  This funding brings the total raised since Adaptate’s inception in late 2019 to $34 million (circa. £25 million).

The funds will be used to accelerate the company’s lead therapeutic antibody programme towards the clinic and to expand its internal product pipeline through expanded R&D activities. This will encompass planned expansion in recruitment, laboratory and office space. The Company’s most advanced programmes are focussed on treatments for cancer patients with solid tumours.

Dr Natalie Mount, CEO of Adaptate Biotherapeutics, said: “The funding is a great vote of confidence from our existing investors and testimony to the hard work and rapid progress we have made in the novel field of gamma delta T cell targeting antibodies. We are excited to continue this growth path and to progress our unique therapeutic antibodies towards clinical trials where we look forward to them making an impact on the treatments available to cancer patients.”

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