Fuse Biotherapeutics Raises an Oversubscribed and Upsized Seed Financing Round of $9.5 Million
Proceeds from this financing will support the development of the Company's proprietary platform, which leverages the inherent capacity of NK cells to distinguish between normal and diseased tissues.
LOS ANGELES, Nov. 15, 2021 (Newswire.com) -- Fuse Biotherapeutics, a company focused on developing next generation immune modulating therapeutics that directs and potentiates both innate and adaptive immunity, today announced it has secured an oversubscribed and upsized $9.5 million Seed round. The round was led by Viva BioInnovator, the specialized investment and incubation arm of Viva Biotech. Also participating were Sherpa Healthcare Partners, Ivy Venture Group, Sirona Capital, and GC&H Investments. Proceeds from this financing will support the development of the Company's proprietary platform, which leverages the inherent capacity of NK cells to distinguish between normal and diseased tissues.
"Innate and adaptive immunity are essential natural mechanisms for humans in preventing and fighting cancer. Modulating these natural pathways is now recognized as a powerful therapeutic approach and we are excited to support cutting edge innovation and and help drive its development into the future," said Han Dai, Ph.D., Head of Viva BioInnovator and Chief Business Officer of Viva Biotech. "VBI is excited to join the effort in developing novel solutions for solid tumors. During our interactions with the founding team, we have been thoroughly impressed by the team's rich experience in the cancer biology space, and their enthusiasm to combat some of the toughest cancers with innovation."
"Sherpa Healthcare Partners has been at the forefront in supporting the development of new therapeutic modalities in the oncology field, and we believe FuseBio's innovative approach has significant potential to play an important role in the next generation therapeutics to fight cancers, especially solid tumors," said Darren Cai, Ph.D., Founding Partner of Sherpa Healthcare Partners. "We are particularly impressed by the team's deep understanding in NK and T cell biology, as well as their strong capabilities in the translational I/O field."
"As Brian Rabinovich, Ph.D., Jeffrey Takimoto, Ph.D., Evren Alici, MD, Ph.D., and I virtually launched FuseBio during the height of the pandemic, we are very pleased with the strong interest and support for our team, vision, and technology," stated FuseBio Co-Founder and CEO, Paul Y. Song, MD. "We are especially appreciative of the confidence that our investor partners have placed in us and grateful for a strong collaborative relationship that has emerged."
About Fuse Biotherapeutics, Inc. (FuseBio)
Fuse Biotherapeutics, Inc. is a biotechnology company that is dedicated to developing transformative immune modulating therapeutics for patients with cancer. Our therapeutic approach integrates the multiple steps of an immune response in a rational manner such that potent responses to danger are targeted without natural breaks in the system that spare healthy tissue.
About Viva BioInnovator
As the investment division of Viva Biotech, Viva BioInnovator is dedicated to investing globally in biotech innovation with novel solutions to unmet medical needs across multiple therapeutic areas, ranging from biopharmaceuticals to devices, diagnostics, and life science tools. By leveraging Viva Biotech's deep experience and technical advantages in novel drug R&D, Viva BioInnovator provides both cash and in-kind services, also called Equity-for-Services (EFS), for its investments.
About Sherpa Healthcare Partners
Sherpa Healthcare Partners ("Sherpa") was founded in 2018, the founders previously worked together in one of China's leading venture capital firms, built and led its professional medical investment team since 2011, set up the dedicated healthcare investment fund and responsible for healthcare investment. The founders have been teamed together in close co-operation, built on shared values, mutual trust, and complementary capabilities. Sherpa has now become an influential healthcare VC firm in the industry. Sherpa has invested in leading companies in many key areas, such as Pharma, GeneTech, MedTech and Medical services. From 2011 to 2020, the team has gone through four vintage year cycles of multiple U.S dollar funds and RMB funds and made 100 investments. Sherpa has the honor to work with many outstanding entrepreneurs and grow together with them.