BioCentury
ARTICLE | Company News

MediGene cancer, autoimmune news

October 6, 2008 7:00 AM UTC

MediGene spun out Immunocore Ltd. (Abingdon, U.K.) to develop a monoclonal T cell receptor (mTCR) discovery program for cancer and autoimmune diseases. The newco raised £7 million ($12.7 million) in a series A round from MediGene and three undisclosed European private investors. MediGene invested €3 million ($4.3 million) for a 38.5% stake. MediGene has the right of first refusal for certain cancer programs if Immunocore chooses to partner them.

James Noble will be Immunocore's CEO. Noble was CEO of Avidex Ltd., which originated the mTCR program and was acquired by MediGene in 2006. MediGene CEO Peter Heinrich will join Immunocore's board. ...