Proceeds from the new investment round will help support the advancement of SQZ's current pipeline of multi-functional cell therapies, designed to direct specific immune responses, and its expansion into infectious diseases
Fremont, CA: Cell therapy firm developing innovative treatments for multiple therapeutic areas, SQZ Biotechnologies, raised USD 65 million in a Series D preferred stock financing round led by Temasek with participation from another new large, US-based fund as well as additional participation from existing investors, including GV, Illumina Ventures, Invus, JDRF T1D Fund, NanoDimension, and Polaris Partners. In addition, SQZ announced the expansion of its cellular vaccine platform, currently in trial for oncology, into infectious diseases and development of a point-of-care system to potentially generate patient products directly at treatment centers.
"Our progress in oncology and recent expansion into the infectious disease space exemplifies the broad potential of the SQZ platforms. Coupled with our rapid central manufacturing and investment in developing a new point-of-care system, we believe SQZ's differentiated approach to treating disease could provide a meaningful benefit to many patients," commented Armon Sharei, Ph.D., chief executive officer of SQZ Biotech.
Proceeds from the new investment round will help support the advancement of SQZ's current pipeline of multi-functional cell therapies, designed to direct specific immune responses, and its expansion into infectious diseases. Currently, the company is progressing its SQZ antigen-presenting cell (SQZ APC) platform for oncology, a novel cancer vaccine, in a Phase 1 trial of SQZ-PBMC-HPV for HPV+ tumors. The company is developing a novel cell therapy platform in oncology, activating antigen carriers (SQZ AACs), and building its earlier stage platform, tolerizing antigen carriers (SQZ TACs), for autoimmune diseases and tolerance applications.
"We are thrilled to have the support of both our new and long-standing investors who believe in SQZ and our potential to create impactful therapies for patients," said Teri Loxam, the chief financial officer of SQZ Biotech. "We remain in a strong position to continue to execute on our goals and achieve milestones across the SQZ portfolio." To further improve the accessibility of SQZ therapeutics, the company is developing a point-of-care system that could potentially generate patient products at the treatment center.