McDermott Advises Earlybird and Andera Partners on ImCheck Therapeutics Financing Round
McDermott Will & Emery advised international funds Earlybird and Andera Partners on a new financing round for ImCheck Therapeutics in the aggregate amount of EUR 96 million. The financing includes a Series C round co-led by Earlybird and Andera Partners and the last outstanding tranche of Series B converted in Series C shares.
Invus and patient organization, the Leukemia and Lymphoma Society, also joined the round as new investors. Existing investors, including Kurma Partners’ Growth Opportunity Fund, Eurazeo, Gimv, Pfizer Ventures, Bpifrance, Wellington Partners, Pureos Bioventures, Agent Capital and Alexandria Venture, participated in the transaction. The company is in a very strong position of liquidity and is strengthening its leadership in the field of gamma-delta T-cells.
The proceeds will be used to support the Phase IIa expansion and completion of the randomized, double-blind, placebo-controlled part of the ongoing EVICTION clinical trial evaluating ImCheck’s lead candidate ICT01 as a both monotherapy and in combination with a PD-1 inhibitor for a broad range of cancers including solid tumors and hematologic malignancies. The company also will apply the capital to investigate ICT01 in combination with other therapeutic agents, including IL-2, in the forthcoming EVICTION-2 clinical trial. The funding will accelerate the further advancement toward the clinic of additional antibody candidates in immuno-oncology, auto-immune and infectious diseases. In addition, it will allow the company to achieve pivotal study readiness for ICT01 and expand its footprint through extended clinical operations and regulatory affairs in Europe and the US.
The McDermott team that advised Earlybird and Andera Partners comprised:
Antoine Vergnat, partner and Côme de Saint-Vincent, counsel, on tax aspects;
Abdel Abdellah and Anne-Lorraine Méreaux, associates, on the social aspects.
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