March Biosciences Closes Oversubscribed Series A Financing
March Biosciences, a clinical stage biotechnology company, has successfully completed a substantial $28.4 million Series A financing round. This funding has attracted significant attention from both new and returning investors, further solidifying the company's financial foundation. Notable participants in this funding round included Mission BioCapital and 4BIO Capital, alongside prominent investors like KdT Ventures, Alexandria Venture Investments, Volnay Therapeutics, Modi Ventures, and Mansueto Investments. With this latest infusion, March Bio's total funding has surpassed $51 million.
Advancing Innovative Therapies
The financing is earmarked to support the Phase 2 development of March Biosciences' lead therapy, MB-105, which is an autologous chimeric antigen receptor T-cell (CAR-T) therapy designed specifically for treating relapsed and refractory CD5 positive T-cell lymphoma. Since its inception as a spinout from a notable center for cell and gene therapy, March Bio has rapidly progressed in creating innovative solutions for tackling complex cancers. The lead candidate, MB-105, has shown promising results in earlier trials, paving the way for further investigations with the expected commencement of Phase 2 trials in the near future.
Innovative Design of MB-105
MB-105 stands out due to its engineering designed to mitigate the challenges often associated with T-cell therapies. By circumventing the common issue of T-cell fratricide, MB-105 retains formidable potency against the targeted tumor cells. Early clinical trials have demonstrated a favorable safety profile and indicated that patients with relapsed T-cell lymphoma may experience durable remissions, amplifying the enthusiasm surrounding the compound. The new round of financing plays a crucial role in enhancing the manufacturing processes, which are pivotal for the transition into the more extensive Phase 2 clinical trial.
Strategic Partnerships and Leadership
The announcement of the Series A financing coincides with March Biosciences unveiling its collaboration with Volnay Therapeutics. This partnership aims to establish a robust and scalable manufacturing process for MB-105, ensuring effectiveness throughout its development and commercialization phases, which are vital components of a successful cell therapy program. As part of this collaboration, Volnay Co-Founder and CEO Stefan Wildt will join March Bio's Board of Directors, bringing a wealth of experience from prior leadership roles in significant pharmaceutical companies.
Statement from Leadership
Co-Founder and CEO of March Biosciences, Sarah Hein, expressed her enthusiasm about the financing, noting, "This oversubscribed financing enables us to advance our first-in-class CAR-T therapy, MB-105, into a Phase 2 trial for T-cell lymphoma, a condition that currently has limited treatment options." She emphasized the company’s dedication to making meaningful advancements in cancer treatment, elevating patient care standards.
Expert Opinions on the Financing
Investment partners echoed the optimism, with Owen Smith from 4BIO Capital mentioning how March Biosciences is addressing significant unmet medical needs in T-cell cancers. He remarked that with their innovative CAR-T treatment, patients now have a greater hope for effective therapies. Cassidy Blundell from Mission BioCapital also highlighted the promise shown by March Biosciences' rigorous scientific and clinical approach, anticipating that their dedicated efforts in the CAR-T space could yield groundbreaking results.
About March Biosciences
Based in Houston, March Biosciences was formed from the Center for Cell and Gene Therapy, focusing on developing advanced treatments for cancers resistant to current therapies. Alongside its lead asset, MB-105, the company is also exploring several undisclosed pipeline products aiming to address urgent medical needs in oncology. Their commitment is further demonstrated by funding support from esteemed entities like the Cancer Prevention & Research Institute of Texas and the NIH SBIR program.
Frequently Asked Questions
What is the purpose of the $28.4 million financing for March Biosciences?
The financing will support the Phase 2 clinical development of their lead CAR-T therapy, MB-105, for treating T-cell lymphoma.
Who are the leading investors in this financing round?
Mission BioCapital and 4BIO Capital led the financing, joined by KdT Ventures, Alexandria Venture Investments, and others.
What is MB-105?
MB-105 is an autologous CAR-T therapy designed to treat relapsed and refractory CD5 positive T-cell lymphoma.
When is the Phase 2 trial for MB-105 expected to begin?
The company plans to start the Phase 2 clinical trial early next year.
What is the vision of March Biosciences?
The company aims to deliver innovative therapies that challenge existing treatment paradigms for difficult cancers, improving patient outcomes significantly.
