July 18 Quick Takes: Immunocore raises $140M PIPE

Six months after FDA approved Kimmtrak tebentafusp-tebn to treat uveal melanoma, Immunocore Holdings plc (NASDAQ:IMCR) raised a $140 million PIPE to fund its oncology and infectious disease pipeline, including the development of Kimmtrak in advanced cutaneous melanoma. The company’s existing investors RTW Investments, Rock Springs Capital and General Atlantic participated in the financing, which Immunocore said will help extend its runway through 2025. It had £237.9 million ($284.3 million) in cash at Dec. 31.

European venture firm Forty51 Ventures announced the first close of its inaugural fund, Forty51 Venture I, raising $43 million. The firm will participate in seed and series A biotech investments, including company creation, with a focus on companies in Switzerland, France and Germany. The firm’s first investment was announced last week, when Forty51 led an undisclosed seed round for Mosanna Therapeutics AG...