Oxford’s Accession Therapeutics raises £25m to collect first clinical data

Accession Therapeutics, an Oxford firm developing novel immunotherapies targeted at tumour sites to provide a step-change in cancer treatment, has raised £25 million.

The money is set to fund the company through generation of the first clinical data for its lead product, TROCEPT-01, as well as advance its second programme to clinical trial readiness.

It brings the total funds committed to Accession Therapeutics in the 30 months since operations began to more than £50 million.

TROCEPT-01 will be the first product generated by Accession Therapeutics’ TROCEPT platform to enter the clinic.

The platform is highly tuneable with the ability to administer a variety of potent anti-cancer transgene payloads specifically to tumours.

As well as providing clinical proof-of-concept of the TROCEPT platform, the proceeds of the fundraising round will enable manufacture of clinical trial material and completion of IND-enabling studies for the firm’s next programme.

TROCEPT-01 is expected to enter the clinic in 2024 for multiple significant solid tumour indications, such as non-small cell lung, bladder, head and neck, and pancreatic cancers.

The second TROCEPT programme is expected to start clinical trials a year later.

Professor Bent Jakobsen, a serial entrepreneur in the biotech space and CEO of Accession Therapeutics, said: “We’re delighted that our swift evolution into a clinical stage company is being financed by our long-term investors.

“Accession Therapeutics thanks them for their support which will enable us to demonstrate the huge clinical and commercial potential of the TROCEPT platform via our first clinical data.”