Umoja Biopharma, a Seattle-based biotechnology company specializing in innovative cancer immunotherapy treatments, has successfully secured $100 million in Series C funding. This latest investment will propel the company’s efforts to develop its groundbreaking in vivo CAR T-cell therapy platform, a technology designed to re-engineer a patient’s immune system from within to combat cancer. This funding round follows substantial previous investments, totaling $263 million, reflecting growing investor confidence in Umoja’s potential to revolutionize cancer treatment. The company’s unique approach aims to enhance the effectiveness, accessibility, and affordability of CAR T-cell therapies, potentially transforming the landscape of cancer care.
Umoja’s in vivo CAR T-cell therapy platform represents a significant advancement in cancer immunotherapy. Traditional CAR T-cell therapies involve extracting a patient’s T-cells, genetically modifying them to target cancer cells, and then reinfusing them back into the patient. This process is complex, expensive, and often requires specialized facilities. Umoja’s in vivo approach bypasses these limitations by directly modifying T-cells within the patient’s body. This eliminates the need for complex ex vivo manipulation, potentially reducing costs and treatment duration while expanding access to a wider patient population. The technology leverages the body’s natural immune response mechanisms, reprogramming existing T-cells to become potent cancer-fighting agents.
The company’s promising technology pipeline includes several preclinical programs and one program, UB-TT170, currently undergoing Phase 1 clinical trials. These trials will assess the safety and efficacy of Umoja’s in vivo CAR T-cell therapy in patients with various types of cancer. The positive results from these trials will be crucial for advancing the technology towards commercialization and making it available to patients in need. Umoja’s research and development efforts are based on technology licensed from Seattle Children’s Research Institute and Purdue University, highlighting the company’s commitment to translating cutting-edge scientific discoveries into tangible clinical benefits.
Leading the company’s efforts is Dr. Andy Scharenberg, CEO of Umoja Biopharma. Dr. Scharenberg brings a wealth of experience in the biotechnology industry, having co-founded Pregenen and Generation Bio. He also holds distinguished academic positions as a professor of Pediatrics and Immunology at the University of Washington and a principal investigator at Seattle Children’s Hospital. His expertise and leadership are instrumental in guiding Umoja’s vision of developing accessible and effective cancer immunotherapies. He emphasizes the company’s dedication to increasing treatment effectiveness, reducing barriers to access, and expanding the reach of CAR T-cell therapies to a broader patient population.
The $100 million Series C funding round was co-led by prominent venture capital firms Double Point Ventures and DCVC Bio, demonstrating strong investor confidence in Umoja’s innovative technology and potential to disrupt the cancer treatment landscape. The investment syndicate includes a diverse group of prominent investors, including ARK Invest, Cormorant Asset Management, MPM Capital, Qiming Venture Partners USA, RTW Investments, Alexandria Venture Investments, SoftBank Vision Fund 2, CaaS Capital, Emerson Collective Investments managed by Yosemite, K2 HealthVentures, Myeloma Investment Fund, and the University of Minnesota Endowment. This broad support from both new and existing investors underscores the widespread recognition of Umoja’s potential to revolutionize cancer care.
The significant investment in Umoja Biopharma reflects a broader trend of increased funding in the Seattle-area biotech sector. Other recent examples include Truveta, a health data platform, securing $320 million, and Tune Therapeutics, another biotech startup, raising $175 million. These investments highlight the region’s growing prominence as a hub for biotechnology innovation and the increasing interest in developing novel therapeutic approaches, particularly in the field of cancer immunotherapy. The influx of capital will further fuel research and development efforts, potentially leading to breakthroughs that transform the lives of patients battling cancer.
