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Immunocore bags US$75m in Series C round

Immuno-oncology specialist Immunocore plc announced the completion of a $75m Series C private financing round.

The round included support from existing investors and funds and accounts managed by BlackRock. Immunocore said it will use the proceeds to  further expand and accelerate its clinical ipeline of bispecific TCRs including its lead program tebentafusp (IMCgp100). Funding follows positive Phase III trial interim analysis data for tebentafusp in patients with metastatic uveal melanoma.

Tebentafusp is a novel bispecific protein comprised of a soluble T cell receptor fused to an anti-CD3 immune-effector function. Tebentafusp specifically targets gp100, a lineage antigen expressed in melanocytes and melanoma, and is the first molecule developed using Immunocore’s ImmTAC technology platform designed to redirect and activate T cells to recognise and kill tumour cells.

Immunocore also announced that it has closed a $100m senior secured loan facility with Oxford Finance LLC and intends to use the loan proceeds for general corporate purposes and to have available as needed to fund a potential commercial launch of tebentafusp.

Interim results from the IMCgp100-202 Phase 3 clinical trial will be presented at an upcoming scientific conference and are to be submitted for publication in a peer-reviewed journal. If approved, Immunocore believes tebentafusp would be the first new therapy for the treatment of metastatic uveal melanoma in 40 years.