On January 25, 2021 TScan Therapeutics, a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies in oncology, reported the closing of an oversubscribed $100 million Series C financing (Press release, TScan Therapeutics, JAN 25, 2021, View Source [SID1234574264]). The financing round added new investors including funds and accounts managed by BlackRock, RA Capital Management, and two undisclosed healthcare-focused funds. Existing investors including founding investor Longwood Fund, 6 Dimensions Capital, Bessemer Venture Partners, GV, Novartis Venture Fund and Pitango HealthTech also participated in the round. Proceeds from this financing will be used to advance TScan’s TCR-T cell therapy pipeline for solid and liquid tumors into the clinic.

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"This funding will enable TScan to progress its first two TCR-T cell assets into the clinic in 2021, with three additional programs to enter the clinic in 2022," said David Southwell, Chief Executive Officer at TScan. "I’m excited to welcome this new syndicate of distinguished healthcare investors to TScan. Recently, we have identified over 40 novel cancer targets from clinically active TCRs for development of multiplexed TCR-T cell therapies as part of our solid tumor program. Our goal is to continue to build a bank of clinically-active TCRs throughout 2021 to help patients win their fight against cancer."

TScan is advancing a multi-TCR T cell therapy program for solid tumors, with plans to nominate an initial set of three target candidates in 2021 and IND submissions to follow in 2022. The Company also signed a strategic partnership with Novartis in 2020 for the discovery of novel oncology targets in a select solid tumor indication. TScan expects to complete IND-enabling studies for two of its liquid tumor programs, TSC-100 and TSC-101, and submit INDs for both programs with the U.S. Food and Drug Administration (FDA) in the second half of 2021. The Company is also exploring use of its novel target discovery technology for both infectious and autoimmune diseases.