CAMBRIDGE, Mass., Jan. 22, 2020 (GLOBE NEWSWIRE) -- Immuneering Corporation today announced that it has closed its oversubscribed Series A round at a total of $20 million. This new total reflects additional funds raised after the company’s previously disclosed completion of $17 million. The financing was led by Boxcar PMJ LLC. Proceeds from the financing will be used to advance Immuneering’s programs towards the clinic in cancer cachexia, next-generation KRAS inhibition, and the RAF-MEK pathway, while further developing the company’s Disease Cancelling Technology and computational platforms.
“The strength of interest from investors enabled us to far exceed our original capital-raising goals. The closing of this round ahead of schedule reflects the increasing recognition that Immuneering’s Disease Cancelling Technology holds the potential to efficiently engineer drug candidates in areas that have proven intractable to traditional drug discovery,” said Ben Zeskind, Ph.D., MBA, co-founder and chief executive officer of Immuneering. “The recent appointments of industry veterans, including Dr. Howard L. Kaufman and Dr. Scott Barrett, to join our powerhouse oncology team including chief scientific officer Brett Hall, Ph.D., will help accelerate the company’s pipeline of cancer medicines, both immunotherapies and targeted therapies. With this investment, we will advance our lead candidates toward clinical studies and expand our exceptional computational biology services business.”
Boxcar is a venture capital investment firm comprised of several family offices with a focus area in biotech investing. Its successful track record includes a founding investment in BridgeBio.
Joseph Kekst, founding partner of Boxcar, added, “Building upon more than a decade of advanced bioinformatics expertise, honed by extensive collaborations with many leading pharma companies, we’re excited to see the impact Immuneering will have on the process of drug development.”
Peter Feinberg, founding partner of Boxcar, noted, “The company has an astounding depth of research and clinical experience in the full management team and is ideally suited to rapidly advance important new drug programs, bringing hope to patients in need.”
About Immuneering Corporation
Immuneering leverages more than a decade of leadership in bioinformatics to develop new medicines unlikely to be found by traditional drug discovery methods. Its current pipeline of drug candidates is focused on treating aspects of disease that have eluded conventional approaches, including cancer cachexia and metastasis. Utilizing its proprietary Disease Cancelling Technology, the company engineers medicines that reverse a disease signal across many relevant genes. Immuneering’s technologies have proven exceptionally rapid and capital efficient in creating its pipeline. Concurrent with its internal programs, the company provides unparalleled computational biology services to leading pharmaceutical and biotechnology companies.
