General Atlantic Places Wager on Immunocore
Posted on 03/04/2020
U.K. biotech company Immunocore Ltd was formed in 2008 as a spinout of German Medigene AG. Immunocore raised US$ 130 million in a Series B round led by General Atlantic. Other new co-investors in the round include CCB International (a unit of China Construction Bank), JDRF T1D Fund, Rock Springs Capital, Terra Magnum Capital Partners, and WuXi AppTec’s Corporate Venture Fund. Existing shareholders, which include, Eli Lilly & Company, RTW Investments, and the Bill & Melinda Gates Foundation, participated in the round by converting an outstanding note. Immunocore focuses on developing T-cell receptor biotherapeutics.
The JDRF T1D Fund is a philanthropic vehicle run as a venture capital fund formed in 2016 that focuses on type 1 diabetes. The fund focuses on equity investments in companies developing T1D products.
Keywords: Cascade Investment.
