Morningside leads £40.6m series-B for Immune Regulation
Morningside Ventures has led a £40.6m series-B funding round for Immune Regulation, a clinical-stage biotechnology company.
The financing round, structured in two tranches, includes an option for Morningside to invest further capital.
The fundraising also saw participation from existing shareholders including London-based 24Haymarket. Additionally, the company has secured £6m in advance subscription funds from private investors led by Metellus; the funds have been applied to the issue of shares.
The funding will go towards Immune Regulation's efforts to develop drug product candidates that reset immune systems from a pro-inflammatory state to a balanced state.
Morningside's Isaac Cheng will be joining the company's board of directors.
Previous funding
NCL Technology Ventures and 24Haymarket participated in an undisclosed round for the company in 2018.
Company
Immune Regulation develops drug product candidates that reset the immune system from a pro-inflammatory state to a balanced state, with the potential to achieve long-term disease remission in autoimmune and allergic diseases. Based in Great Shelford, the company was founded in 2011.
People
Morningside Ventures – Isaac Cheng (investment professional).
Advisers
Equity – Goodwin, Adam Thatcher, Sophie McGrath, Bill Schnoor (legal).
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