Bayer Invests in US Immunotherapy Company Triumvira Immunologics
August 27 2020 - 9:02AM
Dow Jones News
By Cecilia Butini
Bayer AG said Thursday that it has invested in U.S.
biopharmaceutical company Triumvira Immunologics Inc., which is
developing a new platform for engineering T-cells to attack
cancers.
The German conglomerate's impact investment arm, Leaps, and
U.S.-based Northpond Ventures have co-led a $55 million series A
financing round for Triumvira.
"This financing will enable Triumvira to advance multiple
autologous and allogeneic programs into the clinic for solid tumors
and hematologic malignancies," the German company said.
Bayer will be allocated two seats on the Triumvira board, while
Northpond Ventures will have one seat. Scott Smith, who is
currently president at BioAtla and is a former chief operating
officer of biopharma company Celgene, was appointed as chairman of
Triumvira's board.
T-cells are a type of white blood cell that play a key role in
eliminating cancerous cells in healthy individuals.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
August 27, 2020 08:47 ET (12:47 GMT)
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