BRIEF—Allogene Therapeutics raises $110 million

A Californian company working on allogeneic CAR T products has raised approximately $110 million through a stock offering.

South San Francisco-based Allogene Therapeutics is aiming to lead in the development of novel products for cancer and autoimmune diseases.

The money from the offering will help in the development of a pipeline of “off-the-shelf” CAR T cell product candidates, “with the goal of delivering readily available cell therapy on-demand, more reliably, and at greater scale to more patients.”

The offering is anchored by mutual funds and large institutional investors and includes leading healthcare specialists as well as certain Allogene board members.