Accession Therapeutics raises £30.5 million to advance TROCEPT immunotherapy platform

Accession Therapeutics Limited, a clinical-stage biopharmaceutical company developing next generation cancer immunotherapies announces it has raised £30.5 million ($40 million USD) from its existing investors.

Accession Therapeutics’ tumour-targeted immunotherapy platform, TROCEPT, is designed to activate the immune system in solid tumours that are resistant to conventional treatment. By combining targeted viral delivery with localised immune activation only in tumours, TROCEPT offers a potent, selective and scalable approach.

Proceeds from the financing will be used to advance Accession Therapeutics’ growing pipeline of first-in-class immunotherapies developed using the platform. This includes enabling the Company to generate full clinical data from its ongoing Phase 1 ATTEST study of TROCEPT-01 (ATTR-01), the Company’s lead programme designed to selectively generate a clinically validated checkpoint inhibitor within advanced solid tumours. Funds will also be used to progress TROCEPT-02 into the clinic.  This second programme is designed to deliver a proprietary genetically encoded universal bispecific T cell engager into tumours.

Bent Jakobsen, PhD FMedSci, Chief Executive Officer of Accession Therapeutics, said:

This financing reflects the continued strong support of our investors and enables us to take the next important steps in advancing the TROCEPT pipeline. With TROCEPT-01 now in the clinic, and TROCEPT-02 following close behind, we are building momentum towards demonstrating the potential of our tumour-targeted immunotherapy platform.

Jeff Lin, Partner of iGlobe Partners, said:

We are proud to continue supporting Accession Therapeutics as it advances its innovative TROCEPT platform into the clinic. The company has made remarkable progress in a short period of time, and we believe TROCEPT has the potential to create a new class of immunotherapies for patients with solid tumours.

Since inception in 2021, the Company has raised nearly USD $100 million from high-net-worth individuals and venture capitalists, including iGlobe Partners, Primavera Venture Partners and Birk Ventures.