TLDR: Asgard Therapeutics Raises €30M in Series A Financing
- Asgard Therapeutics, a biotech company in Sweden, raised €30M in Series A funding for cancer immunotherapy.
- The funding will support the development of its lead program AT-108 and expand research and development efforts.
As reported on March 14, 2024, Asgard Therapeutics, a Lund, Sweden-based biotech company, secured €30M in Series A financing to advance its work in developing in vivo direct cell reprogramming for cancer immunotherapy. The funding round was led by RV Invest and Johnson & Johnson Innovation – JJDC, Inc., with existing investors Novo Holdings, Boehringer Ingelheim Venture Fund, and Industrifonden also participating. The company plans to use the funds to bring its lead program, AT-108, to IND-readiness by 2026, strengthen its research and development team, and accelerate new reprogramming modalities and delivery platforms to enhance its pipeline.
Under the leadership of CEO Cristiana Pires, Asgard Therapeutics is at the forefront of pioneering in vivo direct cell reprogramming for cancer immunotherapy. By leveraging proprietary reprogramming technologies, the company aims to develop gene therapy products that trigger efficient and personalized immune responses to combat cancer. Through the creation of off-the-shelf cancer immunotherapies tailored to individual patients, Asgard Therapeutics seeks to revolutionize cancer treatment and benefit those in need.
Cristiana Pires expressed excitement about the funding, highlighting the innovative nature of Asgard’s technology which allows for the recreation of functional immune cells directly within patients, overcoming obstacles faced by traditional cell therapies. The company’s strong pre-clinical package supporting AT-108 has provided proof of concept, paving the way for further progress. Pires extended gratitude towards both new and existing investors for their support in advancing Asgard’s mission to develop cutting-edge immunotherapies with groundbreaking potential.
This significant Series A financing marks a crucial step forward for Asgard Therapeutics in its quest to revolutionize cancer immunotherapy through novel reprogramming approaches, positioning the company as a key player in the biotech industry’s ongoing efforts to combat cancer.
