On September 26, 2017 UCL Business spinout company, Autolus Limited, a clinical-stage biopharmaceutical company focused on the development and commercialisation of next-generation engineered T-cell therapies, reported that it closed on a US$80 million (£59 million) Series C financing (Press release, UCLB, SEP 26, 2017, View Source [SID1234520650]).

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New investors Cormorant Asset Management, Nextech Invest and others joined founding investor Syncona Ltd, Woodford Investment Management and Arix Bioscience in this Series C round.

The funds will enable Autolus to establish clinical proof of concept for three programs: AUTO2 in multiple myeloma, AUTO3 in diffuse large B cell lymphoma and paediatric acute lymphoblastic leukaemia and AUTO4 in T-cell lymphoma. In addition, building on its advanced cell programming technologies Autolus plans to advance its pre-clinical pipeline products for solid tumour indications, and will set up the infrastructure required for bringing a CAR-T cell therapy rapidly and successfully to market.

Dr Christian Itin, Chairman and CEO of Autolus, commented:
"We welcome our new shareholders and the continued support of our existing investors, and are looking forward to delivering on the exciting promise of our growing pipeline of engineered T cell product candidates. Since our inception three years ago, Autolus has made substantial progress with two dual targeting programs in three clinical studies, a novel program for T-cell lymphoma’s clinic ready and a unique suite of cell programming technologies established for use in haematological and solid cancers. With the new financing we are well on our way to building a premier fully integrated Oncology Company that harnesses the unique power of T cells to combat cancer."

Bihua Chen, CEO Cormorant Asset Management, commented:
"The upcoming commercial launches of the first generation of CAR-T products herald an important advance in the treatment of cancer. We are excited to be part of a company that is poised to be at the forefront of the next revolution in this field. We are impressed by Autolus’ advanced cell programming and manufacturing capabilities, and a team which we believe has the ability to deliver the full potential of these potentially life-changing therapies in both haematological and solid cancers."

Dr. Martin Murphy, CEO Syncona Ltd., commented:
"Autolus is delivering on world class science with a mission to build a leading oncology business. As a founding shareholder of Autolus we are excited about the remarkable potential of T-cell therapies for the treatment of patients with cancer. Unlocking that potential requires deep innovation in all areas, from cell programming to manufacturing and supply chain, in order to deliver these potentially transformative treatments to patients. Success in this space requires building a new type of biopharma business, which we are excited to be part of."

Joe Anderson, CEO of Arix Bioscience, commented:
"CAR-T is a proven new approach and represents a substantial advance in the treatment of cancer. Autolus has the science and the team to develop the next generation of CAR-T therapies, with a differentiated technology and approach that has the potential to transform patients’ lives. Arix is privileged to be part of this and I look forward to working with my colleagues on the Autolus Board and our co-investors to help achieve these goals."

The Series C follows the £70 million Series A and B financings.