Inceptor Bio will use proceeds from a $37 million series A round to push its lead CAR-T program into phase 1 trials in 2023 and set up manufacturing capability in Florida.
Research Triangle Park, North Carolina-based Inceptor was founded in 2020 with the aim of advancing cell therapies for difficult-to-treat cancers. The company is led by CEO Shailesh Maingi, who is also executive chair and former CEO of Kineticos Ventures, which led the funding round.
As well as advancing the CAR-T therapy into phase 1, the funding will allow Inceptor to continue development of its CAR-M and CAR-NK platforms and will also support completion of a 29,000-square-foot, state-of-the-art cell and gene therapy GMP manufacturing site in Gainesville, Florida.
The company bought the site and a core operating team from Arranta Bio in October 2021 with the aim of establishing cell therapy processes and clinical supply for Inceptor's planned oncology clinical trials.
Inceptor’s preclinical pipeline includes investigational therapies focused on a co-stimulatory domain called M83 and a K62 platform, which increases the phagocytic capabilities of macrophages and supports an M1 anti-tumor phenotype.
“This series A funding allows us to focus on advancing our lead CAR-T program into the clinic while continuing to advance our other exciting cell therapy platforms,” said Mike Nicholson, Ph.D., president and chief operating officer of Inceptor Bio. “Our programs address serious challenges in the cell therapy arena, and fully realizing the potential of these therapies requires significant capital. We are grateful for the support of this incredible group of investors.”