Precigen Raises $75 Million to Advance Gene and Cell Therapy Pipeline
January 31, 2023
Rare Daily Staff
Precigen raised $75 million in a public offering of 42.9 million shares of its common stock at $1.75 per share.
Precigen’s discovers, develops, and commercializes next generation gene and cell therapies, which focus on immuno-oncology, autoimmune disorders, and infectious diseases.
The company’s technologies are designed to enable innovative solutions for affordable biotherapeutics in a controlled manner.
The company’s pipeline includes a proprietary experimental UltraCAR T cell therapy to treat hematological cancers such as acute myeloid leukemia and myelodysplastic syndrome, which is in phase 1 development.
UltraCAR-T is a multigenic autologous CAR-T cell therapy utilizing Precigen’s advanced non-viral gene delivery system to simultaneously express a chimeric antigen receptor targeting CD33, membrane-bound interleukin-15 (mbIL15), and a kill switch. It is manufactured using a decentralized, overnight manufacturing process and administered to the patients the next day.
Precigen’s PRGN-2012 is an innovative experimental therapeutic vaccine with optimized antigen design that uses the company’s gorilla adenovector technology to elicit immune responses directed against cells infected with human papillomavirus type 6 (HPV 6) or HPV type 11 (HPV 11) to treat recurrent respiratory papillomatosis (RRP), a rare, difficult-to-treat, and sometimes fatal neoplastic disease of the upper and lower respiratory tracts that is caused by infection with HPV 6 or HPV 11. There is no cure for RRP and the current standard-of-care is repeated endoscopic debulking with ablation or excision of papillomatous lesions.
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