Affini-T completes $175 million financing, co-led by Vida and Leaps by Bayer

US biotech start-up Affini-T Therapeutics today announced the completion of an oversubscribed $175 million financing that was co-led by Vida Ventures and Leaps by Bayer, the impact investment unit of Germany’s Bayer (BAYN: DE).

With proceeds from this financing, the company will operationalize its platform discovery engine and seek to drive multiple oncogene driver programs into the clinic while pursuing complementary technology licenses to bolster its cell therapy platform. To enable and accelerate growth, the company has established a bi-coastal US presence with research labs in Seattle, Washington, and headquarters and manufacturing infrastructure in Boston, Massachusetts.

Affini-T is committed to developing potentially life-changing medicines for patients with intractable solid tumor cancers, who represent a critical unmet need as current treatment options lack durability and efficacy. Its proprietary platform has the potential to deliver transformative therapies for patients with mutant variants of KRAS, the most prevalent oncogenic driver mutation in solid tumors. Treatment options are needed for these patients as KRAS mutations account for up to 30% of all cancers and are particularly frequent in cancers with high mortality rates including lung cancer, colorectal cancer and pancreatic cancer.

Striking at the core genetic mutations