Quell Therapeutics raises $156 million in oversubscribed Series B financing
London, UK-based cell therapy specialist Quell Therapeutics today announced it has raised $156 million in an oversubscribed Series B financing, adding to the extended Series A financing led by its existing investors Syncona, which has committed an additional $34.7 million and UCL Technology Fund (UCLTF), which has committed an additional $1 million; bringing the total Series A financing to around $84 million as of February this year.
Proceeds from the latest financing will be used to:
- Fund the LIBERATE Phase I/II clinical trial of QEL-001, a first-in-class antigen-specific multi-modular CAR-Treg cell therapy candidate designed to prevent organ rejection in liver transplant patients by inducing durable immune tolerance and eliminating the need for lifelong immunosuppression. QEL-001 is on-track to become the first multi-modular engineered CAR-Treg cell therapy in clinical development, with patient recruitment expected to begin before the end of the year.
- Advance Quell’s pipeline in core therapeutic areas of transplantation, neuroinflammatory diseases and autoimmune diseases
- Accelerate the development of Quell’s autologous multi-modular engineered Treg platform, and further develop an allogeneic CAR-Treg platform.
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