Tolerance Bio, a new cell therapy biotech, has emerged from stealth mode with $17.2 million in funding.
The Philadelphia-based company has announced the closing of its oversubscribed $17.2 million seed financing round, led by Spanish venture capital firm Columbus Venture Partners, with participation from Criteria Bio Ventures, Sessa Capital, BioAdvance, Ben Franklin Technology Partners and individual biotechnology investors.
Tolerance Bio, helmed by industry innovator Francisco Leon, M.D., Ph.D., is developing an allogeneic, or 'off the shelf,' thymus induced pluripotent stem cell (iPSC)-based cell therapy platform as well as pharmacological thymus therapies to address immune-mediated diseases caused by abnormalities in immune tolerance, including cancer, autoimmunity, transplant rejection, infections, immune deficiencies and allergies.
The thymus, located in the chest, plays a crucial role in training T-cells to defend against threats such as infections and cancers while preventing autoimmunity. But the thymus declines with age, increasing the risk of immune diseases and mortality. Tolerance Bio’s technologies aim to delay and prevent thymic changes and restore thymic function if lost — ultimately addressing immune diseases and potentially increasing longevity.
“We intend to rapidly advance and validate our pioneering concepts in a rare disease and then assess proof-of-concept in multiple major indications, advancing these novel therapeutics to target immune disease at its core," said Francisco Leon, Tolerance's co-founder and CEO.