On October 22, 2024, AvenCell Therapeutics, a leading clinical-stage cell therapy company focused on advancing both autologous and allogeneic switchable CAR-T cell therapies, announced that it has raised $112 million in Series B financing. The financing was led by global life sciences investor Novo Holdings. New investors F-Prime Capital, Eight Roads Ventures Japan, Piper Heartland Healthcare Capital, and NYBC Ventures also participated in the round alongside founding investor Blackstone Life Sciences. Wilson Sonsini Goodrich & Rosati advised Novo Holdings and F-Prime Capital on the transaction.

The additional capital will be used to accelerate clinical validation of AvenCell's proprietary Universal Switchable CAR-T cell therapy platform, for the treatment of a wide range of hematologic malignancies and auto-immune diseases.

The Wilson Sonsini team that advised Novo Holdings and F-Prime Capital on the deal includes:

Corporate
Dan Koeppen
Kassandra Castillo
James Keegan

Technology Transactions
Miranda Biven
Sarah (Siedlak) Walker
Jordan Wilcher

Patents and Innovations
Lou Lieto
Mengmeng Zhang

National Security
Stephen Heifetz

For more information, please see Avencell's news release. Additional coverage can be found on Fierce Biotech and BioSpace.