REDWOOD CITY, Calif.--(BUSINESS WIRE)--Atreca, Inc., a biotechnology company focused on developing novel therapeutics based on a deep understanding of the human immune response, announced today the completion of its Series A funding with a total investment of $56 million. The proceeds will fund the further development and advancement of the Company's product pipeline, including therapeutic antibodies designed to optimize anti-tumor immune responses in synergy with checkpoint inhibitors and immune activators. The Series A was led by a large U.S.-based, healthcare-focused fund; additional investors included the Bill & Melinda Gates Foundation, Mission Bay Capital, and GlaxoSmithKline.
Dr. Tito Serafini, Atreca's Chief Executive Officer and Co-Founder of Atreca, stated, "A patient's own anti-cancer immune response is the key phenomenon driving the exciting clinical outcomes seen with checkpoint inhibitors and other immune activators. With Atreca's proprietary and validated technology, we can now capture and analyze effective anti-cancer immune responses in an unprecedented manner, enabling the discovery and development of therapeutics designed to drive more robust and focused anti-tumor immune responses as a next wave of cancer immunotherapeutics."
Dr. William Robinson, Atreca Co-Founder and Board member, commented, "Atreca's technology has the potential to create a broad proprietary position within the immuno-oncology market, which is currently about $2.3 billion and is expected to grow to nearly $30 billion by 2025. By enabling differentiated, next-generation anti-tumor therapies, we expect Atreca to play a major role in the growth of this therapeutic category. This financing will accelerate Atreca's momentum and advance its pipeline."
"We are pleased to support Atreca's efforts to improve human health," said Dr. Trevor Mundel, President of Global Health at the Bill & Melinda Gates Foundation. "The Bill & Melinda Gates Foundation believes that Atreca's technology potentially has broad application for the treatment and prevention of infectious diseases that disproportionately affect the poorest people in the world, such as HIV, malaria, and tuberculosis."
Brookline Group LLC acted as exclusive placement agent during the Series A financing. Certain investors participated in the Series A by conversion of prior debt investment.
Atreca is a privately held biotechnology company developing novel therapeutics drawn from human immune responses, including effective anti-cancer immune responses. We are able to measure and analyze the structure of clinically relevant immune responses to identify the antibodies, T cell receptors, and targets that are key to successful treatment outcomes. Atreca's proprietary Immune Repertoire Capture™ technology profiles a patient's immune response at the single-cell level at very high throughput without bias or error, enabling the identification and generation of functional human antibodies and TCRs without prior knowledge of antigen. The Company is advancing a pipeline of candidates with the objective of enhancing engagement of the human immune response in cancer treatment and other indications, thus optimizing therapeutic outcomes. For more information on Atreca, please visit www.atreca.com.
Forward-Looking Statement Disclaimer
The statements in this press release regarding the expected use of proceeds from the offering and Atreca's product pipeline are forward-looking statements. Actual results could differ materially from these forward-looking statements as a result of certain factors, including, without limitation, risks related to the application of the net proceeds from the offering to Atreca's product development objectives and risks associated with Atreca's product development timelines. These are forward-looking statements, which speak only as of the date of this press release. Atreca does not undertake any obligation to update any forward-looking statements as a result of new information, future events, changed assumptions or otherwise.