Pitt spinout BlueSphere Bio has attracted an initial $45.6m in series B funding towards a $105m target size.

BlueSphere Bio, a US-based immunotherapy spinout of University of Pittsburgh (Pitt), attracted $45.6m in series B funding last month, the Pittsburgh Business Times has reported citing a regulatory filing. The company is targeting a $105m close and will use the capital to further develop its immunotherapy platform, called TCXpress, that is aimed at diseases such as cancer. Its lead asset aims to boost patient outcomes in bone marrow transplants. TCXpress is based on technology developed by chief scientific officer and co-founder Mark Shlomchik, chair and UPMC endowed and distinguished professor in Pitt’s Department of Immunology. He co-founded the company with Warren Shlomchik, a professor of medicine, haemtology-oncology and immunology in the same department. BlueSphere Bio was established in 2017 through the Immune Transplant and Therapy Center, an initiative between Pitt and its affiliate healthcare provider UPMC. The latter’s commercialisation arm UPMC Enterprises has made a $200m commitment to the centre. UPMC Enterprises supplied $10m in series A financing to BlueSphere Bio in late 2018.

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Thierry Heles

Thierry Heles is the editor of Global University Venturing, host of the Beyond the Breakthrough interview podcast and responsible for the monthly GUV Gazette (sign up here for free).