CellCentric takes funding haul past $135m with latest successes

The funding will support the continued development of CellCentric’s oral drug inobrodib, a first-in-class p300/CBP inhibitor to treat multiple myeloma.

Alongside the conversion of a loan note from Pfizer made last year to $25m equity, the American Cancer Society’s impact investment and innovation arm, BrightEdge, has also made an additional investment in CellCentric. It all amounts to $60m.

The latest funding boom re-affirms BrightEdge’s belief that improved patient outcomes and health equity can be achieved through novel treatments that address quality of life and provide broader access.

The investment in total will be used to complete clinical testing in alignment with FDA requirements prior to Phase III trials. CellCentric has now raised a total of $135.6m over 18 rounds, it can be reported.

Multiple myeloma remains a difficult to treat disease, with 75 per cent of people diagnosed still dying of the condition after existing treatments.

While cell and antibody-based therapies have brought great progress for patients, they can be physically taxing and complex to administer. There is a growing need for complementary treatments, suitable for administration in community settings.

Laura Stoppel, Principal at RA Capital Management, who joins CellCentric’s Board, said: “We are thrilled to support CellCentric as it heads towards registration studies.

“The progress in multiple myeloma treatment is undeniable but the reality is stark, many patients still face relapse and die from the disease. Inobrodib’s mechanism of action holds new promise of extending and improving the lives of a broader patient population.”

Alice Pomponio, vice-president of innovation and impact investing and managing director of BrightEdge, added: “It’s vital that we support the development of novel drugs like inobrodib that are intended to address unmet need and inequities in care.

“We are delighted to be a part of the program’s continued advancement and look forward to seeing the improvements in patient outcomes with the potential to have a real-world impact.”

CellCentric CEO Will West said all the investments charted were “testament to the quality of the data generated to date.” He added: “There is a pressing need for easy-to-administer therapies to complement other available therapeutic options. We must serve the widest possible communities of patients and as an oral, well tolerated drug that can be taken at home, inobrodib has an important role to play.”