Immunocore receives $40mn investment from The Gates Foundation
Established in 2008, British biotech company Immunocore has received surprise attention from The Bill and Melinda Gates Foundation, who will invest up to $40 million in the company. The investment is expected to be part of a larger funding round.
Developing biological drugs to treat cancer, infectious diseases and autoimmune diseases, The Bill & Melinda Gates Foundation will support the creation of Immunocore's ImmTAV (Immune mobilising monoclonal T-Cell Receptors (TCRs) Against Virus) and ImmTAB (Immune mobilising monoclonal TCRs Against Bacteria) therapeutics for infectious diseases that pose a global health challenge.
The collaboration will enable Immunocore to provide treatment for conditions such as tuberculosis (TB) and human immunodeficiency virus (HIV), and improve patient outcomes. The partnership is part of its initiative to apply its soluble TCR-based therapeutics to areas outside of oncology.
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The investment by the Bill & Melinda Gates Foundation is part of its programme-related investments (PRI) strategy, which aims to stimulate private sector-driven innovation, encourage market-driven efficiencies and attract external capital to priority global health and development initiatives that improve the lives of the world's most vulnerable people.
"Many infectious diseases continue to represent a huge and growing global challenge,” commented Eliot Forster, Chief Executive Officer at Immunocore.
“We're delighted and honoured that the Bill & Melinda Gates Foundation, one of the most significant forces for positive change in global healthcare, has recognised the potential of Immunocore's platform technology for advancing novel therapeutics for infectious diseases such as TB and HIV."