As reported in the St. Louis Business Journal, biotech startup Wugen Inc. has raised $172 million in Series B funding. The St. Louis-based company was founded on technology licensed through the Office of Technology Management at Washington University in St. Louis.
The round brings Wugen’s total capital raised to more than $200 million, one of the largest equity funding rounds ever by a St. Louis-based company.
Wugen plans to use the funding to advance the clinical development of “natural killer” (NK) and T-cell therapies to treat various cancers. Its NK cell therapies aim to treat a wide range of hematological and solid tumor malignancies.
The company’s lead drug candidate, WU-NK-101, is in an ongoing phase 1/2 clinical trial for acute myelogenous leukemia. Wugen also plans to begin multiple solid tumor clinical trials and is moving forward with its CAR-T cell therapy, which is designed to treat T-cell leukemia and lymphoma.