(Alliance News) - Schroder UK Public Private Trust PLC on Thursday said it invested in T-cell development company, A2 Biotherapeutics Inc, as part of its USD50 million financing round.
The London-based investment trust invested USD1.2 million into A2 Biotherapeutics, which is using its own cell therapy Tmod platform to treat solid tumour cancers.
Los Angeles, California-based A2 Biotherapeutic engineers T cells that target the loss of genetic material in tumours to kill selective tumour cells while leaving normal cells unharmed.
Investors backing A2 Biotherapeutics include The Column Group, Vida Ventures, Samsara BioCapital, Nextech Invest, Casdin Capital, Euclidean Capital, UC Investments, Hartford HealthCare Endowment, StepStone Group, Section 32 and Merck & Co Inc.
Tim Creed and Roger Doig, Schroder portfolio managers, said: "A2 Biotherapeutics is in line with the company's private equity sub-strategy for backing innovative life sciences businesses, at the clinical or near-clinical stage, with high quality science, a strong financing position, alongside high-quality co-investors."
Schroder shares were down 1.5% to 15.90 pence on Thursday morning in London.
By Jaskeet Briah; jaskeetbriah@alliancenews.com
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