- ICG co-invested in the oversubscribed $170m financing
- ICG’s Peter Kiener to join Wugen’s Board of Directors
- Wugen technology licensed from Washington University in St. Louis
ICG Life Sciences, completed its investment in Wugen, Inc., a clinical-stage biotechnology company developing a pipeline of novel and innovative cell therapies. Peter Kiener, D.Phil., Venture Partner at ICG, will join Wugen’s Board of Directors.
The proceeds of the financing will support further clinical development of Wugen’s best-in-class ‘off the shelf’ memory natural killer (NK) cell platform and advance ongoing trials for patients with severe acute myelogenous leukemia (AML) and other oncology indications, including head and neck cancer and melanoma.
Dan Kemp, Ph.D., President and Chief Executive Officer of Wugen, said:
We have tremendous confidence that our world leading memory NK cell platform will give rise to a significant pipeline of highly effective and safe anti-cancer therapies. We are delighted to welcome Peter Kiener and ICG, to the Board of Directors, Peter’s depth of experience in developing novel oncology products will be invaluable.
Peter Kiener D.Phil, Venture Partner, Intermediate Capital Group, commented:
I am very excited about our investment in Wugen Inc. it further build ICG’s position as a leading investor in life sciences in both Europe and the US. The company’s memory NK cell platform is truly best in class and I look forward to working with the Board and management to develop safe and effective transformational therapies for cancer patients.
Wugen’s memory NK cell platform, with enhanced tumor-killing functionality and in vivo persistence is designed to overcome the limitations of conventional NK cell therapies. In clinical studies, WU-NK-101 was shown to be highly effective against AML, including in patients with a high burden of disease, and without causing cytokine release syndrome (CRS) or neurotoxicity.
Wugen utilizes its proprietary GMP-grade fusion molecules to manufacture and scale its memory NK cell products using cells from healthy donors. In addition, Wugen’s feeder cell-free expansion and cryopreservation method enables an off-the-shelf treatment approach, with the opportunity for streamlined global distribution and convenient outpatient dosing for cancer patients.
For further information please contact:
Wugen, Inc., is a clinical-stage biotechnology company developing a pipeline of off the shelf memory natural killer (NK) cell therapies to treat a broad range of hematological and solid tumor malignancies. Memory NK cells are hyper-functional, long-lasting immune cells that have evolved to attack cancer and respond to infection. Wugen is harnessing the power of this rare cell population by using its proprietary technologies to create WU-NK-101, currently in clinical development for acute myelogenous leukemia (AML). In addition, Wugen is developing a pipeline of programs targeting solid tumor indications.
For more information, please visit www.wugen.com.