Temasek leads $65m Series D round in US-based SQZ Biotechnologies

Photo by Louis Reed on Unsplash

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.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.