Immunocore Grabs $320M in Record Financing for European Biotech
July 17, 2015
In the largest private financing of a European biotech, U.K.-based Immunocore has raised $320 million at a reported valuation of close to $1 billion. New investors Woodford Investment Management, Malin, Eli Lilly and Company, and RTW Investments participated in the oversubscribed round, along with other new and existing backers. Founded in 2008, Immunocore is developing T cell receptor-based biological drugs to treat cancer, viral infections and autoimmune disease. The only larger biotech financing worldwide came when Massachusetts-based Moderna Therapeutics raised $450 million around six months ago. Credit Suisse advised Immunocore on the round, while Cooley served as legal counsel.