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Umoja Biopharma is at the forefront of developing in vivo CAR T cell therapies to revolutionize the treatment of cancer and autoimmune diseases. The company recently raised $100 million in its Series C financing, which is a significant milestone in advancing its proprietary technologies and clinical programs.
Funding Details
Double Point Ventures and DCVC Bio co-led the Series C round, joined by both new and existing investors, such as ARK Invest, Cormorant Asset Management, MPM Capital, Qiming Venture Partners USA, RTW Investments, Alexandria Venture Investments, SoftBank Vision Fund 2, CaaS Capital, Emerson Collective Investments managed by Yosemite, K2 HealthVentures, Myeloma Investment Fund, and the University of Minnesota Endowment.
This broad investor base marks strong confidence in Umoja’s mission in developing accessible, effective in vivo CAR T-cell therapies.
Read also: MiRXES Secures $40 Million Funding to Expand Cancer Diagnostics in Asia
Strategy Goals
With the capital infusement, Umoja is going to be capable of:
- Furthering Clinical Programs: Acceleration of its leading program, UB-VV400, through core oncology and autoimmune clinical trials.
- Advancing technology platforms: Improving VivoVec ^{TM} for in vivo gene delivery technology – enabling a patient’s own immune system to work against disease
- Expand Manufacturing Capacity: Enable its expansion of its manufacturing operations in Louisville, Colorado, and build up its R&D capabilities.
Technological Innovations
Umoja’s approach is based on in vivo generation of CAR T cells, so no complex ex vivo cell manipulation is required. This includes the following:
- VivoVec Platform: A proprietary lentiviral vector system delivers genetic material directly to patients’ bodies, prompting their own cells to become CAR T cells.
- TumorTag™ Technology: Utilizes bispecific small molecules to guide CAR T cells to the tumor bed, increasing targeting accuracy and improving therapeutic effectiveness.
These products work toward streamlining the process around CAR T cell therapy, lowering the cost of the therapy, and increasing access to the therapy for patients.
Leadership and Governance
The equity financing is accompanied by the addition of Dr. Campbell Murray, a Senior Adviser at Double Point Ventures, to Umoja’s Board of Directors. Dr. Murray brings rich experience to advise on the company’s strategic vision.
Market Position and Competition
Umoja operates in a competitive landscape alongside companies like Allogene Therapeutics and Poseida Therapeutics, which are also developing off-the-shelf CAR T therapies. However, Umoja’s in vivo approach offers potential advantages in manufacturing efficiency and scalability.
Read also: Leyden Labs a Dutch biotech has raised $70M in funding
Future Prospects
With the new funding, Umoja is poised to:
- Initiate Clinical Trials: Advance UB-VV400 into clinical trials for various oncology and autoimmune indications.
- Expand Pipeline: Create more in vivo CAR T programs targeting a wide range of diseases.
- Improve Manufacturing: Increase manufacturing capabilities to meet both clinical and future commercial needs.
Summary
Umoja Biopharma’s successful $100 million Series C financing highlights the growing confidence in its innovative approach to in vivo CAR T cell therapies. Using proprietary technologies such as VivoVec™ and TumorTag™, Umoja aims to change the treatment landscape for cancer and autoimmune diseases, bringing advanced therapies closer to patients across the globe.
