SAN FRANCISCO -Shennon Biotechnologies (“ShennonBio”), a biotech company developing more effective immunotherapies using a unique single-cell platform, announced a USD 13 million oversubscribed seed financing round, led by DCVC with participation from Foundation Capital, AV8, and angel investors, has closed.
ShennonBio, a company founded in 2021, has created a unique platform that, in a matter of hours, can functionally profile millions of immune cells at the single-cell level, allowing the discovery of TCR or antibody targets to provide more accurate and efficient immunotherapies. ShennonBio has shown the potency of its technology over the past 1.5 years by locating uncommon, functionally activated T cells and forming partnerships with several clinical institutes to analyze patient data. The current financing will be utilized to increase discovery activities and further develop the platform’s capabilities to create a pipeline of solid tumor targets that are efficient.
Finding the ideal target effector immune cell and mass producing it outside of the body before reintroducing it within the body to imitate a potent natural immune response is a crucial step in the development of successful cancer immunotherapies. Unfortunately, it is exceedingly challenging to find immune cells that are specific to cancer antigens. Finding the appropriate T cell or B cell that can identify cancer antigens and successfully target cancer cells is like looking for a needle in a haystack due to the tremendous diversity of immune cells. To profile such a heterogeneous population and find the few functional immune cells for cancer immunotherapy, a lot of work has been put into this problem.
“At ShennonBio, our multidisciplinary team of engineers and scientists has developed a single-cell screening platform that can identify uncommon effector T cells against specific antigens at ultrahigh throughput by measuring functional secretion,” said Li Sun, Ph.D., CEO & Founder, of Shennon Biotechnologies. “Whereas conventional methods need weeks to identify a T cell target, our technology platform can do so in a matter of hours and with more accuracy, increasing the likelihood of developing a cancer patient’s cure in a shorter time. With this financing, we can scale up our target identification activities, and we are grateful to have the backing of such an amazing group of investors.”
Shennon Biotechnologies has developed a proprietary single-cell platform that enables functional profiling of immune cell and antigen interactions with unprecedented selectivity and throughput, resolving a critical bottleneck in immunotherapy. Founded in 2021, the company is developing a pipeline of effective cell therapy targets for treating solid tumors and, later autoimmune diseases. The company is based in San Francisco, CA.
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