UCLB spinout, Quell Therapeutics, raises $156 million in Oversubscribed Series B Financing
Quell Therapeutics (Quell) has announced $156 million in oversubscribed Series B financing to advance its pioneering multi-modular engineered T Regulatory (Treg) cell therapy pipeline and platform.
The financing round was co-led by Jeito Capital, Ridgeback Capital Investments, SV Health Investors and Fidelity Management & Research Company LLC with participation from founding investor Syncona. New investors include British Patient Capital through its Future Fund: Breakthrough program, Janus Henderson Investors, Monashee Investment Management, Point72 and funds managed by Tekla Capital Management LLC.
The biotechnology company and world leader in developing engineered (Treg) cell therapies, will use the proceeds raised to fund the clinical development of QEL-001 in liver transplantation, to accelerate development of its product pipeline across transplantation, neuroinflammatory and autoimmune diseases, and enhance its multi-modular engineered Treg platform and manufacturing footprint.
Quell builds on the expertise of leading academics within the Treg, cell engineering, solid organ transplantation and autoimmune disease fields from three world class institutions: UCL, Kings College London (KCL) and Hannover Medical School.
Formed in 2019 Quell provided the opportunity for UCL founders – Professors Hans Stauss and Emma Morris of the Institute of Immunity & Transplantation, to further develop their research and know-how, alongside counterparts at KCL and Hannover Medical School, in turn translating their expertise into medical impact.
“It’s fantastic to see Quell go from strength to strength as it moves a step closer towards generating real patient benefit through leading, cutting edge regulatory T cell expertise.” Comments Barny Cox, the UCLB Senior Business Manager who supported Quell throughout its early formation. “Backed by this welcome injection of finance, I look forward to seeing the company grow, building upon its academic foundations as a fine example of the successful translation of pioneering, high-quality scientific research.”