GammaDelta Therapeutics Raises Seed Funding from Abingworth


2016-09-16 00:00:00

Abingworth, the international investment group dedicated to life sciences, today announced that it has seeded GammaDelta Therapeutics Ltd, a new immunotherapy company. GammaDelta Therapeutics also received support from three organisations, Cancer Research Technology (CRT), King’s College London and the Francis Crick Institute. The company is being incubated at Abingworth’s London office.

GammaDelta Therapeutics has been founded on pioneering research by Professor Adrian Hayday and Dr Oliver Nussbaumer at King’s College London and the Francis Crick Institute, funded in part by Cancer Research UK, into gamma delta (γδ) T cells. These are a unique and conserved population of lymphocytes that contribute to many types of immune responses and immunopathologies. The new company is focused on exploiting this work to develop improved immunotherapies for cancer and potentially other diseases.

Peter Goodfellow, an advisor to Abingworth and formerly Senior Vice President for Discovery Research at GlaxoSmithKline, is Chairman of the board, which also includes, Prof. Hayday; Raj Mehta of CRT; Stephen Parker, Institutes Director; Mike Owen, formerly Senior Vice President for Biopharmaceuticals Research at GlaxoSmithKline; and Tim Haines, Managing Partner of Abingworth.

Dr Phil L’Huillier, Cancer Research Technology’s director of business management, said: “We’re delighted to work with a world-class scientist and institutes to see this Cancer Research UK-funded science progress further towards the clinic and cancer patients. Immunotherapy is proving to be a powerful tool against cancer and we’re pleased to be at the cutting edge of research to develop new treatments.” 

Raj Mehta of CRT and Founder and Interim CEO of GammaDelta Therapeutics, said: “We are delighted to have attracted the support of Abingworth to the founding and development of GammaDelta Therapeutics and will use the proceeds to help us advance our innovative programmes into the clinic.”

“GammaDelta’s technology is differentiated from other approaches to immunotherapy being pursued and has the potential to make a significant impact on the treatment of cancer,” said Abingworth’s Tim Haines. “We look forward to working with the team to advance the discovery and development of novel therapeutic candidates based on this exciting approach.”

 

ENDS

For media enquiries contact the Cancer Research Technology press office on 020 3469 8300  or, out of hours, on 07050 264 059.

Notes to editors

About Cancer Research Technology

Cancer Research Technology (CRT) is a specialist commercialisation and development company, which aims to develop new discoveries in cancer research for the benefit of cancer patients. CRT works closely with leading international cancer scientists and their institutes to protect intellectual property arising from their research and to establish links with commercial partners. CRT facilitates the discovery, development and marketing of new cancer therapeutics, vaccines, diagnostics and enabling technologies. CRT is a wholly owned subsidiary of Cancer Research UK, the world's leading cancer charity dedicated to saving lives through research. Further information about CRT can be found at commercial.cancerresearchuk.org and about Cancer Research UK at www.cancerresearchuk.org

 

About GammaDelta Therapeutics

Founded in 2016, GammaDelta Therapeutics is developing the potential of gamma delta (γδ) cells to create improved immunotherapy of cancer and other serious diseases. The company plans to exploit unique properties of tissue resident γδ T cells for effective immunotherapy.