Researchers from Seattle who are finding ways to eliminate cancer are bringing in some serious funding today.
On the same day the Fred Hutchinson Cancer Research Center announced a $20 million donation from the family of Amazon.com CEO Jeff Bezos, Seattle-based Adaptive Biotechnologies announced a big $105 million investment.
Adaptive, which had previously only raised $15 million, was spun out of Fred Hutchinson in 2009. The startup focuses on researching the immune response in patients who have cancer and autoimmune disorders by isolating T-Cell receptors from the human genome. By analyzing the genetic information in those T-Cells and understanding an individual’s immune system response, the company can better stop — or even eliminate — cancer from the human body.
The fresh funds, which come from Connecticut-based Viking Global Investors — $5 million in a Series C and $100 million in a Series D — will help Adaptive build out its research and commercialize new products for both universities and pharmaceutical companies. Viking will take an observer seat on Adaptive’s Board as a result of the financing.
“We are excited to have our strategic vision of immunosequencing across disease states be validated by a large capital investment from Viking,” Chad Robins, CEO and founder, said in a statement. “The creation of data to influence clinical care represents the next wave of opportunity, and these proceeds will allow us to build our organization with top talent in all key areas from research to sales and to further commercialize our platforms and applications.”
On top of Bezos’ donation to Fred Hutch today, today’s funding is the second substantial round for a Seattle-based biotech company in the past three months. Juno Therapeutics, another Seattle startup spun out of the Fred Hutch, the Memorial Sloan-Kettering Cancer Center and Seattle Children’s Research Institute, raised a hefty $145 million series A round in January. The company, which also has funding from Bezos, is researching immunotherapy strategies to eliminate cancer from the human body.
The two financing events, coupled with the Bezos gift to the Fred Hutch, could provide a significant shot in the arm to Seattle’s biotechnology industry which has suffered from numerous fits and starts over the years. For a number of reasons, the region’s biotech community has failed to take root. But a new-found energy appears to be coalescing around the Fred Hutch.
Learn more about Adaptive Biotechnologies here.
