Qishin Tariq · · 1 min readTemasek-backed cell therapy firm nets $126m for cancer treatment research
Singapore-based cell therapy company Tessa Therapeutics, which carries out research for cancer treatments, has raised US$126 million in a series A financing round led by healthcare investment firm Polaris Partners.
Representative image of a scientist in a lab/ Photo credit: CDC on Unsplash
The round also saw participation from existing investors, including Singaporean state-owned investor Temasek, EDBI, Heliconia Capital, and Heritas Capital.
In conjunction with the financing, Amy Schulman and Darren Carroll, managing partners at Polaris Partners, have joined Tessa’s board of directors. The funding will be used to advance the company’s ongoing clinical trials of its therapy programs. The clinical trial supplies will be manufactured at Tessa’s newly qualified commercial CGMP facility in Singapore.
Founded in 2011, Tessa Therapeutics aims to develop next-generation cancer treatments for hematological malignancies and solid tumors.
In 2017, the firm raised a US$80 million funding round led by Temasek, which was joined by EDBI, Karst Peak Capital, Heliconia, and Heritas, among others.
See also: Series SEA: Who’s investing in the region’s health startups?
Editing by Samreen Ahmad and Joy Tirkey
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