BGF joins T-Therapeutics’ Series A, bringing total funding to $91m

BGF has joined the Series A extension for T-Therapeutics, a biotechnology company developing next-generation T-cell receptor (TCR) therapeutics for cancer and autoimmune disease. Recognised as one of the UK’s leading innovators in immune-based drug discovery, T-Therapeutics has raised a further $32 million, taking its Series A total to date to $91 million.

New investors BGF and Tencent join the Series A syndicate, alongside existing major shareholders Sofinnova Partners, F-Prime Capital, Digitalis Ventures, Cambridge Innovation Capital, Sanofi Ventures and the University of Cambridge Venture Fund.

Spun-out of the University of Cambridge, the business was founded in 2022 by Professor Allan Bradley, who transitioned to the role of Chief Scientific Officer in 2025. T-Therapeutics is led by Chief Executive Officer Theodora Harold, an experienced life sciences executive with a strong record in building and leading cutting-edge biotech companies.

T-Therapeutics is advancing two main drug development programmes, based on its proprietary TCR-CD3 bispecific technology. Its lead cancer programme is developing a treatment that targets a key gene found in many solid tumours, while its lead immunology programme focuses on eliminating harmful immune cells and rebalancing the immune system to deliver long-lasting disease control.

Both programmes use specially engineered molecules, called CD3 binders, that are designed to be highly effective, minimise side effects, and perform well in the body. These are combined with high-affinity TCRs discovered through the company’s OpTiMus® platform, which can generate a broad range of disease-targeting receptors, capable of recognising proteins inside cells that were previously considered unreachable.

This also marks BGF’s latest investment into a female-powered business, since announcing its £300m+ commitment, as part of the Invest in Women Taskforce. Earlier this year, BGF also invested in CWC Group, a family-owned and female-powered specialist care provider, based in Northern Ireland. The pledge to invest in female-powered businesses forms part of BGF’s overall commitment to invest £3bn in high-potential businesses across the UK over the next five years.

Debbie Wosskow OBE, Co-Chair of Invest in Women Taskforce, said: “The UK biotech market is a huge opportunity for female founders, but it is often a male-dominated field. Theodora’s strong track record of delivery demonstrates that investing in women-led ventures is about performance, which is key to the work of the Invest in Women Taskforce. Businesses like T-therapeutics are set to transform treatments, and we must ensure more companies like this receive the funding they need to tackle real-world problems. We need to stop overlooking them, and this is a fantastic place to start.”