Immunocore secures $75 Million in latest funding round

Immunocore

Immunocore, the Oxfordshire-based late-stage biotechnology company pioneering the development of a novel class of T cell receptor (TCR) bispecific immunotherapies designed to diseases such as cancer, infectious and autoimmune diseases, has completed a $75 million Series C private financing round.

Led by an existing investor, the Series C financing included support from existing investors and funds and accounts managed by BlackRock. The proceeds will enable Immunocore to further expand and accelerate its growing clinical stage pipeline of ImmTAX™ (Immune mobilising monoclonal TCRs Against Cancer, Infectious Diseases and Autoimmune) molecules, including its lead program tebentafusp (IMCgp100).

Immunocore, which has its headquarters at Milton Park near Abingdon, has also closed a $100 million senior secured loan facility with USA-based Oxford Finance LLC and intends to use the loan proceeds for general corporate purposes and to have available as needed to fund a potential commercial launch of tebentafusp.

Bahija Jallal, Chief Executive Officer of Immunocore, said: “This successful financing represents another validating milestone for Immunocore as we continue our pioneering work in the field of soluble, bispecific TCR immunotherapies to treat a broad range of diseases. The support of our new and existing investors represents a further endorsement of the potential of our powerful technology platform. Following the recent positive Phase 3 data for tebentafusp, we are working to progress this investigational agent through the regulatory process as a potential new treatment to metastatic uveal melanoma patients with a high unmet need.”

Interim results from the IMCgp100-202 Phase 3 clinical trial are expected to be presented at an upcoming scientific conference and to be submitted for publication in a peer-reviewed journal. If approved, Immunocore believes tebentafusp would be the first new therapy for the treatment of metastatic uveal melanoma in 40 years. This is a rare and aggressive form of melanoma, which affects the eye. Metastatic uveal melanoma typically has a poor prognosis and has no currently accepted optimal management or treatment.