CAMBRIDGE, MA, Neon Therapeutics today announced the successful completion of a $70 million Series B financing.
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Neon Therapeutics, an immuno-oncology company developing neoantigen-based therapeutic vaccines and T cell therapies to treat cancer, today announced the successful completion of a $70 million Series B financing. Proceeds from the financing will be used to advance Neon Therapeutics' lead program NEO-PV-01, a fully personalized neoantigen vaccine, through an ongoing Phase 1b clinical trial. In addition, this investment will support preclinical development of NEO-PTC-01, a personalized adoptive T cell program, and the Shared Neoantigen Program.
The Series B financing was led by Partner Fund Management. Joined by existing investors Third Rock Ventures and Access Industries, additional new investors included Fidelity Management & Research Company, Wellington Management Company, Inbio Ventures and Nextech Invest.
'The investor quality in this financing reflects the promise of the neoantigen biology platform, as well as our leading position,' said Hugh O'Dowd, chief executive officer of Neon Therapeutics. 'This capital is a testament to our strong team and our approach to neoantigen-based therapeutics, and will provide important resources to bring potentially life-changing medicines to cancer patients in need.'
About Neon Therapeutics
Neon Therapeutics is an immuno-oncology company focused on developing novel therapeutics leveraging neoantigen biology to treat cancer. A neoantigen-based product engine allows Neon to develop multiple treatment modalities, including next-generation vaccines and T cell therapies targeting both personalized and shared neoantigens. Neon's lead program is a personalized neoantigen vaccine that builds upon years of research and development at the Broad Institute and Dana-Farber Cancer Institute, and is already in clinical trials. For more information, please visit www.neontherapeutics.com.