Singapore state investor Temasek has led a $65-million Series D round in SQZ Biotechnologies Company (SQZ), a US-based clinical-stage cell therapy company, according to an announcement.
The round saw participation from GV, Illumina Ventures, Invus, JDRF T1D Fund, NanoDimension, and Polaris Partners.
The proceeds will be used to support the advancement of SQZ’s current pipeline of multi-functional cell therapies, designed to direct specific immune responses, and its expansion into infectious diseases.
The company also announced the expansion of its cellular vaccine platform, currently in trial for oncology, into infectious diseases, and the development of a point-of-care system to potentially generate patient products directly at treatment centers.
SQZ Biotech chief financial officer Teri Loxam said, “We remain in a strong position to continue to execute on our goals and achieve milestones across the SQZ portfolio.”
In recent investments in the technology-driven space, Temasek and biotech fertilizer company Breakthrough Energy Ventures led a $100-million Series C funding round in agtech startup Pivot Bio.
Last October, Temasek joined hands with Chinese contract research organization (CRO) Hangzhou Tigermed Consulting to launch a USD-denominated investment fund that will back early and growth-stage startups in the biotechnology and CRO fields. The new fund, dubbed TG Sino-Dragon Fund, is targeting to raise about $62 million in total. Tigermed plans to invest up to $12 million through two subsidiaries, TG Mountain and TG Sky Growth.