Singapore-based MediSix Therapeutics, which is developing cellular therapies targeting T-cell leukaemia and lymphoma, announced that it has raised $20 million in Series A financing backed by state investment arm Temasek Holdings.
MediSix said proceeds from the Series A financing, which was led by global venture capital firm Lightstone Ventures and joined by Osage University Partners, will be used to expand the startup’s team, advance product development, and initiate early pre-clinical studies.
Founded this year by Professor Dario Campana, MediSix utilises proprietary immune engineering approaches that enable T cell leukaemias and lymphomas to be targeted with cell therapy.
The bioengineering startup is developing breakthrough treatments for T-cell blood cancers, an area where it says effective immunotherapies are currently lacking, with an exclusive licensing agreement with the National University of Singapore.
“This financing is a testament to MediSix’ novel approach to developing treatments that target T-cell malignancies, as well as our investors’ confidence in our ability to quickly bring these potentially life-saving therapies to patients affected with these aggressive forms of cancer,” Campana said.
Kenneth D. Noonan, CEO, Lightstone Singapore, said MediSix has made “excellent progress” in breakthrough treatments to underserved cancer patients. MediSix was set up with an initial investment from Lightstone Singapore, a Singapore-focused fund founded in 2016 by Lightstone Ventures.
“Lightstone Ventures, Temasek, and Osage University Partners are pleased to support MediSix as it advances its pre-clinical development program,” Noonan said
Osage University Partners is a venture capital firm focused on investing in startups that are commercializing pioneering university technologies.
In addition to the funding announcement, MediSix also disclosed the appointment of Murray Robinson as the company’s Chief Scientific Officer.
Robinson is the founder of Molquant, an applied translational company that uses novel approaches to the molecular analysis of large clinical and genomics datasets to improve interpretation of genomic-scale data. He previously held leadership roles at Amgen Inc and AVEO Pharmaceuticals.
Early this year, Singapore-based Vickers Venture Partners announced plans to raise up to $500 million this year to increase investment in biotechnology, nanotechnology, and artificial intelligence. At $500 million, Fund VI will be one of the largest venture capital funds to be raised in Southeast Asia.