SQZ Biotech announced today an additional $8 million in Series B financing from GV (formerly known as Google Ventures) and Quark Venture Inc. The funding augments an earlier closing of $16 million led by NanoDimension and Polaris Partners in September 2016. SQZ Biotech is developing a new generation of cell therapies that harness the body’s natural immune system to combat disease. SQZ will utilize the Series B funds to further invest in the platform and advance its preclinical immuno-therapy programs in oncology and other serious diseases.
“This is exactly the kind of groundbreaking technology the Quark Venture Global Health Sciences Venture Fund was set up to support. The technology that originates out of Drs. Jensen and Langer’s laboratories finds a new and efficient way to get molecules into cells,” said Karimah Es Sabar, Chief Executive Officer of Quark Venture. “This is a game changer that has the potential to enable new, high profile therapeutic approaches to address our most challenging diseases. We are pleased to join other significant investors and to partner with the team at SQZ Biotech.”
Within the last year, SQZ has entered a $500M partnership with Roche, executed on more than 10 industry collaborations, and demonstrated proof-of-concept for multiple novel cell therapies. Scientists from SQZ and its collaborators have published findings in a variety of high profile scientific publications, including a recent review article in Nature. The company has also received grants of more than $2 million in addition to the funding.
“We are very excited to have Quark Venture and GV in our investment syndicate,” said Dr. Armon Sharei, Co-Founder and CEO of SQZ Biotech. “They join a renowned group of experienced investors who are supporting this transformative technology with both capital and counsel, and we look forward to building our innovative cell therapy company together.”