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Exuma Biotech Raises $41M in Series B2 Funding Round

NEW YORK – Exuma Biotech on Tuesday said it has raised $41 million in a Series B2 funding round, which it will use to develop its autologous, subcutaneous rPOC CAR-TaNK platform for hematologic and solid tumors and to investigate its Tumor Metabolism Regulated CAR technology for solid tumors.

New investors, including Americo Life, and existing investors contributed funds. The West Palm Beach, Florida-based company, which formed in 2015, has raised $130 million since its inception.

The raised funds will allow the company to advance two CAR T-cell platforms in its portfolio. Using its Tumor Metabolism Regulated technology, Exuma is developing CAR T-cell therapies that target specific antigens and take advantage of differential microenvironments associated with tumor tissue. These features, according to the company, may improve the efficacy of its cell therapies in solid tumors and improve their toxicity profile.

The company is also using the rPOC (rapid point-of-care) subcutaneous technology to develop CAR products that leverage T- and NK-like (TaNK) cell populations, which may allow for quicker manufacturing and reduce costs by avoiding adjuvant chemotherapy and extended hospital stays.

Earlier this year, Exuma said it was collaborating with Moffitt Cancer Center to use its rPOC platform to develop a CD19- and CD22-targeting CAR T-cell product for B-cell malignancies.

In line with the funding, Exuma also announced the appointment of Houston Holmes, a specialist in medical oncology and hematology at Texas Oncology, to its board of directors.