Incysus Therapeutics Inc., a biopharmaceutical company with its scientific operations based in Birmingham, announced it has raised $10 million in Series A financing.
The company is focused on developing scientific advancements for the treatment of cancers, specifically leukemia, lymphoma and glioblastoma. Proceeds from the financing will be used to support advancement of Incysus’ drug-resistant immunotherapy technology in both pre-clinical and clinical programs.
In addition to its successful financing campaign, the company announced that Dr. Lawrence S. Lamb has been appointed executive vice president and chief scientific officer, ensuring the company’s scientific work will remain in Birmingham.
“Dr. Lamb is recognized worldwide as the premier researcher in gamma-delta T cell immunotherapy,” said Jon Nugent, vice president of innovation and technology at the Birmingham Business Alliance (BBA), who worked with Incysus to obtain this round of funding. “We are excited that he and Incysus have decided to continue his work here in Birmingham.”
Lamb has worked with Incysus since early 2016 and had previously been a professor and laboratory director at the University of Alabama at Birmingham (UAB) School of Medicine. In this role, Lamb will lead the company’s research and development programs and will be responsible for setting scientific strategy. Lamb will stay in Birmingham and keep the company’s scientific operations here at Innovation Depot.
In 2019, Incysus will advance its clinical programs – one targeted to leukemia and lymphoma and the other targeted to treat patients with newly-diagnosed glioblastoma – into Phase 1 trials during the first half of the year, the company said.
“We are excited to close this first institutional financing round with knowledgeable, high-caliber investors,” said William Ho, president and CEO of Incysus. “The new funding validates our business plan and approach. It will enable us to continue to build the team while expanding the capabilities and opportunities of this cutting-edge scientific platform as we initiate clinical trials for blood and solid tumor cancers.”
Some of the $10 million came from Birmingham investors, Nugent said.
“It’s exciting to see this significant level of support for Incysus’ corporate and clinical programs,” he said. “The BBA is proud to continue to work with the company and local investors as Incysus prepares to enter human clinical trials in its key programs for leukemia, lymphoma and brain cancer.”