On March 1, 2023, CARGO Therapeutics, Inc. (CARGO), a biotechnology company advancing a next generation of CAR T-cell therapies for cancer, announced the close of a $200 million oversubscribed and upsized Series A financing. The financing was co-led by Third Rock Ventures, RTW Investments, LP, and Perceptive Xontogeny Venture Fund, and includes additional new investors Nextech, Janus Henderson Investors, Ally Bridge Group, Wellington Management, funds and accounts advised by T. Rowe Price Associates, Inc., Cormorant Asset Management, and Piper Heartland. Founding investor Samsara BioCapital and existing seed investors Red Tree Venture Capital and Emerson Collective also participated in the financing.

CARGO is advancing what will potentially be a first and best-in-class autologous CD22 chimeric antigen receptor T-cell (CAR T) therapy as well as a pipeline of next generation CAR T-cell therapies for cancer using its proprietary cell engineering platform technologies. Wilson Sonsini Goodrich & Rosati advised CARGO on patent and technology transaction matters related to the transaction.

The proceeds from the financing will be used to advance CARGO’s autologous CD22 CAR T-cell therapy candidate, CRG-022, through a pivotal multicenter Phase 2 trial in patients with LBCL whose disease has relapsed or is refractory to CD19 CAR T-cell therapy. CARGO also intends to advance its proprietary platform technologies and discovery-stage programs to deliver better outcomes for patients with cancer who have high unmet need.

The Wilson Sonsini team that advised CARGO on patent and technology transaction matters includes:

Patents and Innovations
Lou Lieto
Chris McAndrew
Sherrie Holdman
David Stanton

Technology Transactions
Norman Hovijitra
Miruna Predescu
Shefali Tandon
Lauren Wardle

For more information, please see the press release.