Adicet Bio acquires Applied Immune Technologies and closes $51 million financing

27 January 2016

California, USA-based biotech firm Adicet Bio has announced the acquisition of Applied Immune Technologies (AIT), an Israel-based company that develops immunotherapies directed to the intracellular proteome.

Adicet also revealed that it has closed a $51 million Series A financing. Adicet The financing was led by OrbiMed and also included Novartis Venture Fund and Pontifax.

"These significant financial resources will allow Adicet to progress its universal immune cell therapy (uICT) platform technology and related products and advance AIT's programs and product pipeline," said Aya Jakobovits, founder, president and chief executive of Adicet, which was established in 2014. "AIT's technologies, capabilities, and intellectual property highly complement those of Adicet and position the combined company to become a leader in next-generation immunotherapy products for cancer and other indications," Dr Jakobovits added.

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