Grid Therapeutics, a Durham-based biotechnology company developing the first human derived targeted immunotherapy for cancer, has raised more than $4.5 million of a $5 million equity offering, according to a filing with the U.S. Securities and Exchange Commission.
The company previously closed its Series A financing led by Longview International, a Singapore-based venture capital firm along with Duke University and Longview International as another strategic shareholders in September 2o17.
Grid has developed a novel approach of identifying specific tumor immunoglobulin G (IgG) antibodies from patients with early stage cancer. They used a unique strategy to obtain the sequence of its lead IgG3 antibody directly from cancer patients’ single B cells; the antibody effectively eliminates tumors, modulates the adaptive immune response, and has no known side effects.
The technology is based on the innovative science first developed by Edward F. Patz, Jr. MD and his team of scientists at Duke University Medical Center.
Grid Therapeutics was formed to translate his discovery and the platform into a novel therapeutic product and treatment approach. The antibody is being manufactured for a Phase I clinical trial in advanced stage cancer patients.