9:37 AM
Apr 12, 2018
 |  BC Extra  |  Financial News

Tessa raises additional $50M, names Ando to board

Immunotherapy company Tessa Therapeutics Pte. Ltd. (Singapore) added $50 million to a financing round announced in December, bringing the round's total to $130 million.

The company also named former Novo Nordisk A/S (CSE:NOVOB; NYSE:NVO) Chairman Göran Ando to its board as an independent director.

Temasek led the financing. EDBI, Karst Peak Capital, Heliconia and Heritas also participated in the round. Tessa told BioCentury "additional demand from investors met on the roadshow" led to the round's latest close.

Tessa is developing cancer therapies using its Virus Specific T cell (VST) technology, in which a patient's cytotoxic T cells are extracted and stimulated to target tumor cells with viral antigens and then reintroduced into the patient.

In February, Tessa said it would add U.S. sites to its Phase III trial of lead candidate TT10 to treat nasopharyngeal cancer. The therapy comprises Epstein-Barr virus (EBV)-specific autologous cytotoxic T lymphocytes.

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