Immunocore secures $130 million Series B financing

Privately-held UK-based T cell receptor (TCR) biotech firm Immunocore today announced the completion of its Series B private financing round, generating more than $130 million.

The Series B round is led by General Atlantic, a leading global growth equity firm and new investor in Immunocore. Other new investors participating in this round include CCB International, JDRF T1D Fund, Rock Springs Capital, Terra Magnum Capital Partners and WuXi AppTec’s Corporate Venture Fund. Five existing shareholders in the company, including Eli Lilly (NYSE: LLY) and RTW Investments, are also participating, as well as the Bill & Melinda Gates Foundation through conversion of its outstanding loan note.

The proceeds will enable Immunocore to further expand and accelerate its rapidly-growing clinical stage pipeline of ImmTAX (immune mobilizing monoclonal TCRs against cancer, infectious diseases and autoimmune) molecules that includes three oncology programs in MAGE-A4 (in collaboration with Roche [ROG: SIX] subsidiary Genentech), NYESO-1 (in collaboration with GlaxoSmithKline [LSE: GSK]), and the lead program tebentafusp (IMCgp100), which is in pivotal clinical studies as a potential treatment for patients with metastatic uveal melanoma.