Anocca, a fully integrated cell therapy biotechnology company, has secured €25 million ($26.5 million) venture debt financing from the European Investment Bank (EIB).
Anocca’s CEO and co-founder Reagan Jarvis said: “We’re delighted that the EIB has chosen to support us as we build a critical piece of advanced biotechnology capability and infrastructure in Sweden. Anocca’s mission is to expand the clinical and commercial reach of cell therapies by leveraging our proprietary analytical and manufacturing platforms. This financing supports us in moving our first generation of T-cell immunotherapies towards clinical trials in a solid tumor indication during 2024.”
Anocca’s board chairman, Hans Stråberg added: “This financing further validates Anocca’s cutting-edge and novel approach to immunotherapy. It supports our ambitious plan to create an extensive clinical pipeline of game changing cancer therapies. We welcome the EIB to our committed group of investors as we continue building a leading European biotechnology company with the potential to transform the treatment of serious diseases.”
Beating Cancer Plan
Paolo Gentiloni, European Commissioner for Economy, said: “This agreement is one of the first InvestEU investments in Sweden in life science. It is also an important contribution to the development of cutting-edge technologies which can help us fight cancer, in line with Europe’s Beating Cancer Plan. Research and development endeavors need significant and sustained investment to make sure they deliver on the promises they hold for our future. InvestEU is helping build this bright future by giving innovative companies access to the finance they need to grow and continue to innovate.”
Thomas Östros, vice-president at EIB, said: “Impressed by the team and their pioneering approach to engineering T-Cell therapies for cancer, I am delighted to announce this €25 million EIB venture debt support to Swedish biotechnology company Anocca. Ultimately, our financing will help to accelerate clinical development to provide patients with access to innovative therapies in areas of high unmet medical need. This support confirms EIB’s role as a leading investor in innovation and life sciences and boosts Europe’s competitiveness and role as a research powerhouse.”