ImmuneID Announces Close of $50 Million Series A Financing to Develop Precision Immunology Therapeutics
Longwood Fund-founded company has raised over $70 million since its Q4 2020 launch
Proprietary platform licensed from Dr. Stephen Elledge’s laboratory used to develop novel therapeutics across multiple therapeutic areas, including autoimmune, oncology, severe allergy and infectious disease
CAMBRIDGE, Mass.–(BUSINESS WIRE)–ImmuneID, Inc., a precision immunology company employing a proprietary platform to identify and therapeutically target antibody interactions that drive immune diseases, today announced that it has raised $50 million in Series A financing. This Series A financing brings the total amount raised by ImmuneID since its December 2020 launch to over $70 million. Proceeds from the financing will be used to advance the development of therapeutic candidates to treat autoimmune diseases, severe allergies, cancer and infectious diseases.
“ImmuneID’s advanced platform leverages technologies such as next-generation sequencing, robotic automation and artificial intelligence to provide insights that can be used to develop precision immunology therapeutics,” said Stephen Elledge, Ph.D., ImmuneID co-founder and SAB chair, Lasker Award winner and The Gregor Mendel Professor of Genetics and Medicine at Harvard Medical School. The platform was first featured in Science and additional applications of the platform in multiple disease areas have been published in leading journals such as Science, Cell, PNAS and Nature Communications.
“ImmuneID’s unique and powerful immunological target identification platform unlocks the complexity of human immune responses to guide the development of precision immunology therapeutics in areas where there remains significant unmet patient need,” said Longwood Fund’s Christoph Westphal, M.D., Ph.D., ImmuneID co-founder and Executive Chair.
This Series A round was led by new investor Alta Partners and included new investors Alexandria Venture Investments, Redwood Capital Investments, Section 32 and Tekla Capital Management. All existing investors participated in the financing, including Arch Venture Partners, Longwood Fund, Pitango HealthTech, In-Q-Tel, Xfund and others. This Series A financing follows a $22 million seed financing round that was led by founding investor Longwood Fund.
”This financing from an exceptional group of investors positions us to execute on our ambitious plans to develop a new generation of precision immunology therapeutics,” said ImmuneID CEO David Donabedian, Ph.D., who brings more than 20 years of experience in biotech company formation and business development to ImmuneID. Dr. Donabedian previously has held various leadership roles at biopharmaceutical companies including AbbVie (NASDAQ: ABBV) and GlaxoSmithKline (NYSE: GSK).
Dan Janney, Managing Partner of Alta Partners, said, “We are excited to lead the Series A financing and join the current syndicate to further support ImmuneID and their promising approach to developing highly targeted therapeutics to treat diseases related to the immune system.”
As part of the Series A Financing, Mr. Janney and Dr. Steve Kafka, Managing Partner, Section 32, will join ImmuneID’s board of directors.
About ImmuneID’s Platform and Technology
ImmuneID’s technology platform and the underlying technology is designed to provide insights into human immune response throughout the course of disease progression for the identification of high-quality therapeutic targets. The technology was originally developed in the lab of Stephen Elledge, Ph.D., ImmuneID co-founder and Chair of ImmuneID SAB, Lasker Award winner and The Gregor Mendel Professor of Genetics and Medicine, Harvard Medical School.
ImmuneID is a precision immunology company using its proprietary platform to simultaneously identify and therapeutically target millions of antibody interactions that drive immune diseases. Based on technology developed by scientific founders Stephen Elledge (Harvard), Ben Larman (Johns Hopkins), and Tomasz Kula (Harvard), we are employing our massively parallel, multiplexed and unbiased systems to develop therapeutics for autoimmunity, severe allergy, oncology and infectious disease. ImmuneID was founded in 2020 by Longwood Fund and is headquartered in Cambridge, MA.