Anocca secures EUR 25 million from the European Investment Bank (EIB) to support clinical development of next-generation T-cell therapies for cancer
SÖDERTÄLJE, Sweden, Dec. 21, 2022 /PRNewswire/ -- Anocca, a fully integrated cell therapy biotechnology company, today announced that it has secured EUR 25 million Venture Debt financing from the European Investment Bank (EIB). This significant investment recognises the strength and high potential of Anocca and its transformational approach to developing T-cell therapies for cancer.
Anocca's CEO and co-founder Reagan Jarvis said, "We're delighted that the EIB has chosen to support us as we build a critical piece of advanced biotechnology capability and infrastructure in Sweden. Anocca's mission is to expand the clinical and commercial reach of cell therapies by leveraging our proprietary analytical and manufacturing platforms. This financing supports us in moving our first generation of T-cell immunotherapies towards clinical trials in a solid tumour indication during 2024."
Anocca's Board Chairman, Hans Stråberg added, "This financing further validates Anocca's cutting-edge and novel approach to immunotherapy. It supports our ambitious plan to create an extensive clinical pipeline of game changing cancer therapies. We welcome the EIB to our committed group of investors as we continue building a leading European biotechnology company with the potential to transform the treatment of serious diseases."
Paolo Gentiloni, European Commissioner for Economy, said: "This agreement is one of the first InvestEU investment in Sweden in life science. It is also an important contribution to the development of cutting-edge technologies which can help us fight cancer, in line with Europe's Beating Cancer Plan. Research and development endeavours need significant and sustained investment to make sure they deliver on the promises they hold for our future. InvestEU is helping build this bright future by giving innovative companies access to the finance they need to grow and continue to innovate."
Thomas Östros, Vice-President at EIB, said: "Impressed by the team and their pioneering approach to engineering T-Cell therapies for cancer, I am delighted to announce this EUR 25 million EIB venture debt support to Swedish biotechnology company Anocca. Ultimately, our financing will help to accelerate clinical development to provide patients with access to innovative therapies in areas of high unmet medical need. This support confirms EIB's role as a leading investor in innovation and life sciences and boosts Europe's competitiveness and role as a research powerhouse."
Anocca is using its advanced technologies to engineer next generation T-cell immunotherapies for the treatment of solid tumours with unmatched precision, speed, and scale. The Company is building libraries of novel T-cell immunotherapies that specifically target difficult to treat cancers and will be moving into clinical trials in 2024. Alongside oncology, the company's proprietary technologies are being applied to the development of vaccines and treatments for autoimmune diseases.
Anocca has a fully integrated research and development infrastructure, underpinned by tailor-made advanced software solutions and in-house clinical manufacturing and process development facilities. This unique discovery platform uses programmable human cells to generate a broad pipeline of targets and T-cell receptors with blockbuster potential as cell therapy products.
Founded in 2014, Anocca is led by an experienced management team that has raised EUR 100 million in funding from leading Nordic investors. In 2022, the company secured EUR 25 million in funding from the European Investment Bank. Anocca's team of over 90 employees operate from its state-of-the-art R&D and manufacturing facilities in Södertälje, Sweden. To learn more about Anocca, please visit www.anocca.com and follow us on LinkedIn.
About the European Investment Bank
For more information see www.eib.org/en/
The European Investment Bank (EIB) is the bank of the European Union, owned by the EU27 Member States, and finances projects in four priority areas: infrastructure, innovation, climate and environment, and small and medium-sized enterprises (SMEs). It is active in some 160 countries and is the world's largest multilateral lender for climate action projects. The bank is providing long term financing for economically sustainable investments to contribute to the European Union's political objectives. The EIB's Climate Bank Roadmap 2025 sets out the ambition to support EUR 1 trillion of climate action and environmental sustainability investments in the decade to 2030.
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