Swedish Anocca has secured Venture Debt financing from the European Investment Bank (EIB).
This significant investment recognizes the strength and high potential of Anocca and its transformational approach to developing T-cell therapies for cancer, the company states.
“This financing supports us in moving our first generation of T-cell immunotherapies towards clinical trials in a solid tumor indication during 2024.”
“We’re delighted that the EIB has chosen to support us as we build a critical piece of advanced biotechnology capability and infrastructure in Sweden. Anocca’s mission is to expand the clinical and commercial reach of cell therapies by leveraging our analytical and manufacturing platforms. This financing supports us in moving our first generation of T-cell immunotherapies towards clinical trials in a solid tumor indication during 2024,” says Anocca’s CEO and co-founder Reagan Jarvis.
One of the first InvestEU investment in Sweden in life science
“This agreement is one of the first InvestEU investment in Sweden in life science. It is also an important contribution to the development of cutting-edge technologies which can help us fight cancer, in line with Europe’s Beating Cancer Plan. Research and development endeavors need significant and sustained investment to make sure they deliver on the promises they hold for our future. InvestEU is helping build this bright future by giving innovative companies access to the finance they need to grow and continue to innovate,” says Paolo Gentiloni, European Commissioner for Economy.
“Ultimately, our financing will help to accelerate clinical development to provide patients with access to innovative therapies in areas of high unmet medical need,” says Thomas Östros, Vice-President at EIB.
Photo of Reagan Jarvis, CEO and co-founder, and Hans Stråberg, chairman