UK’s Quell Therapeutics raises £156m Series B
By Jenni Reid
07:40, 29 November 2021
British biotech company Quell Therapeutics has raised £156m ($117m) in oversubscribed Series B funding.
Quell said it would use the financing to fund further clinical trials of a cell therapy that would prevent organ rejection in liver transplant patients, preventing the need for lifelong immunosuppression.
The round was led by Jeito Capital, Ridgeback Capital Investments, SV Health Investors, Fidelity Management & Research Company.
The company will also advance its pipeline in transplantation, neuroinflammatory diseases and autoimmune diseases.
London-based Quell launched in March 2019 with £34m in Series A funding from FTSE 250 investor Syncona, which also participated in the Series B.
Quell specialises in regulatory T (Treg) cell therapies which are used to suppress overactive immune responses and promote tissue repair.
Its total £60.4m Series A funding was the largest ever within the Treg field.
Paris-based private equity firm Jeito today said its technology allowed it to design, engineer, and manufacture Treg products with greater stability, persistence and potency.
Jeito CEO Rafaèle Tordjman commented: “Our investment in Quell is testament of our ambition to continue building a strong portfolio of companies with the potential of becoming market leaders.”
Iain McGill, Quell Therapeutics CEO, said: “We are proud to have the support of this premiere syndicate of investors as we drive forward to our next stage of growth.
“With this financing, we have the full suite of capabilities – capital, cutting-edge science, and a world-class team – to advance our pipeline and platform to key milestones on our path ultimately to deliver potentially transformative therapies to patients suffering from diseases caused by immune dysregulation.”