Tessa Therapeutics Closes USD 80 Million Financing Round Led by Temasek
- Proceeds to be used to further develop the Tessa’s advanced solid tumor immunotherapy pipeline
- Funding round reinforces Tessa’s position as an emerging leader in cellular immunotherapy with the vision of bringing transformational change to cancer therapy
SINGAPORE – 20 December 2017 – Tessa Therapeutics, an international clinical stage biopharmaceutical company focusing on T cell therapy for solid tumors, today announced the completion of a USD 80 million financing round led by Temasek, an investment company headquartered in Singapore, and joined by EDBI, Karst Peak Capital, Heliconia, Heritas and other investors.
Andrew Khoo, co-founder and CEO of Tessa Therapeutics, commented: “We are very pleased with the success in this financing round which validates our work and continued progress in the development of Tessa’s Virus Specific T cell platform technology and clinical pipeline. Tessa plans to expand its global presence and advance next generation cellular therapies targeting a wide range of cancer indications.”
Tessa will use the proceeds from this funding round to further advance its clinical pipeline and to bring new therapies, based on the company’s Virus Specific T cell (VST) platform, into clinical trials.
Tessa’s VST technology is showing compelling results in the treatment of solid tumors. The company is currently conducting a multi-center Phase III trial targeting nasopharyngeal cancer and a Phase I trial targeting cervical cancer and oropharyngeal cancer. In recent years, Tessa has built robust operational and supply chain capabilities allowing the company to effectively deliver autologous T cell therapy treatments to a large patient pool internationally
Virus-Specific T cells are produced through a selective expansion process that gives them the ability to infiltrate and survive in solid tumors long enough to attack and destroy them from within, a key differentiator to other cell therapies. Tessa’s VSTs migrate to the tumor site and kill cancer cells with precision leaving healthy cells unharmed, leading to high treatment efficacy and safety.
About Tessa Therapeutics
Tessa Therapeutics is a clinical stage biopharmaceutical company with the scientific vision of revolutionizing the treatment of cancer by redirecting the body’s potent anti-viral immune response to recognize and kill cancer cells. Tessa’s core virus-specific T cell (VST) platform has shown compelling results in the treatment of solid tumors, and the company is building a portfolio of therapies addressing a wide range of tumors by combining the qualities of its T cell platform with complementary technologies. Tessa’s lead Phase III trial for nasopharyngeal carcinoma (NPC) is the world’s largest Phase III T cell immunotherapy trial for any cancer indication. The company has built up robust operational and supply chain capabilities to successfully deliver autologous T cell therapy treatments to a large patient pool across five countries. The combination of technologies from its academic, clinical, and commercial research partners have enabled the company to create a fully-integrated approach to the treatment of cancer with immunotherapy.
Incorporated in 1974, Temasek is an investment company headquartered in Singapore. Supported by 10 offices internationally, Temasek owns a S$275 billion (US$197b) portfolio as at 31 March 2017, mainly in Singapore and the rest of Asia.
Our portfolio covers a broad spectrum of industries: financial services; telecommunications, media & technology; transportation & industrials; consumer & real estate; life sciences & agribusiness; as well as energy & resources. Our investment activities are guided by four investment themes and the long-term trends they represent: Transforming Economies; Growing Middle Income Populations; Deepening Comparative Advantages; and Emerging Champions.