LONDON: Cargo Therapeutics LLC (Cargo) on 1 March 2023 announced the completion of its $200 million Series A financing round.
RTW Venture Fund alongside other investment vehicles of RTW Investments LP (the “Investment Manager”), confirms that it co-led the Series A financing round together with other investors.
Cargo is a privately held clinical stage biotech company developing the next generation of best-in-class chimeric antigen receptor T-cell (CAR T) therapies.
Cargo is also developing a pipeline of next generation adoptive cell therapies for cancer using its proprietary cell engineering platform technologies. The proceeds from the financing round will be used to advance Cargo’s autologous CD22 CAR T-cell therapy candidate, CRG-022, through a pivotal multi-centre Phase 2 trial in patients with large B-cell lymphoma (LBCL) whose disease has relapsed or is refractory to CD19 CAR T-cell therapy.
Cargo also intends to advance its proprietary platform technologies and discovery-stage programs targeting other hematologic malignancies and solid tumours.
The Investment Manager continues to assess an attractive pipeline of potential investment opportunities and look forward to updating shareholders on progress in due course.
Roderick Wong, M.D., Managing Partner and Chief Investment Officer at the Investment Manager, said: “We are delighted to co-lead Cargo’s Series A financing round and to support its efforts to develop potentially best-in-class CAR T cell therapy. The addition of Cargo to RTW Venture Fund’s portfolio further expands our focus on oncology, a sector with high unmet needs and significant potential to invest in innovative therapeutic modalities with transformative impacts.”