Hogan Lovells advises March Biosciences in closing oversubscribed US$28.4 million Series A financing

Mission BioCapital and 4BIO Capital led the financing, with participation from KdT Ventures, Alexandria Venture Investments, Volnay Therapeutics, Modi Ventures, and Mansueto Investments. Several existing investors also participated in the round. March Biosciences has raised over US$51 million to date, inclusive of all dilutive and non-dilutive funding.

March Biosciences has rapidly advanced its innovative autologous chimeric antigen receptor T-cell (CAR-T) therapy, MB-105, in development for the treatment of relapsed and refractory CD5 positive T-cell lymphoma. MB-105 is specifically engineered to overcome major hurdles related to T-cell targeting by overcoming T-cell fratricide while maintaining high potency against CD5 positive tumor cells. 

The new financing coincides with an announcement that March Biosciences has partnered with Volnay Therapeutics, a cell therapy venture studio. The two will to develop a robust and scalable manufacturing process for MB-105 through clinical development and potential commercialization, a critical component of a successful autologous cell therapy program. 

More information on the transaction can be found here.

The Hogan Lovells deal team was led by partner Andrew Strong, senior associate Daniel Garcia, and associate Josh Ling (all M&A, Houston), with support from partners Scott Loughlin (Privacy and Cybersecurity, Washington, D.C.), Steve Kaufman (M&A, Washington, D.C.), and counsel Melissa Levine (Privacy and Cybersecurity, Washington, D.C.).