Immunocore’s $130M series B gives new CEO Jallal capital to progress pipeline

Nearly five years after Immunocore raised what was then the largest-ever European venture round at $320 million, the company has raised a fresh $130 million from a syndicate featuring seven new investors to both advance and broaden the biotech’s pipeline of T cell receptor bispecifics.

Growth equity investor General Atlantic led the series B round, which saw participation by several other new investors including Chinese investors CCB International Capital and the corporate venture fund of WuXi AppTec Co. Ltd. (Shanghai:603259; HKEX:2359), as well as JDRF T1D Fund, Rock Springs Capital and Terra Magnum Capital Partners. Existing investors Eli Lilly and Co. (NYSE:LLY) and RTW Investments along with three other undisclosed investors also participated. ...