MediGene spins out Immunocore

MediGene (Xetra:MDG) spun out Immunocore (Abingdon, U.K.) to develop a discovery-stage monoclonal T cell receptor (mTCR) program for cancer and autoimmune diseases. The newco raised L7 million ($12.7 million) in a series A round from MediGene and three undisclosed European private investors. MediGene invested EUR 3 million ($4.3 million) for a 38.5% stake. James Noble will be Immunocore's CEO. Noble was CEO of Avidex, which originated the mTCR program and was acquired by MediGene in 2006. MediGene CEO Peter Heinrich will join Immunocore's board. ...