Funding will advance oncology and autoimmune programmes focused on treatment of solid tumours and chronic tissue inflammation.
BGF has completed a follow-on investment in T-Therapeutics, a biotechnology company developing next-generation T cell receptor (TCR) T cell engager (TCE) therapeutics for cancer and autoimmune diseases. The oversubscribed $133 million Series B round will fund the clinical development of its first-in-class TCR-CD3 bispecific lead programmes in oncology and autoimmune disease.
The financing was co-led by Advent Life Sciences and British Business Bank with participation from other new investors, Johnson & Johson Innovation – JJDC Inc. (JJDC), Samsara BioCapital, M-Ventures and Eli Lilly and Company (Lilly), alongside all existing major shareholders, Sofinnova Partners, F-Prime, Digitalis Ventures, Cambridge Innovation Capital, Sanofi Ventures, Tencent and BGF.
Proceeds from the financing will support entry into the clinic and the generation of clinical proof-of-concept data for T-Therapeutics’ two lead programmes in cancer and autoimmune diseases. Both programmes leverage the company’s unique, proprietary OpTiMus® platform, which provides an unparalleled supply of fully human TCRs, enabling access to validated, but previously undruggable, intracellular targets.
T-Therapeutics’ lead oncology programme offers broad therapeutic potential across the largely untapped solid tumour space. In immunology, the company is deploying its platform to drive a novel, precision approach to immune reset, through the selective depletion of pathogenic cells that drive chronic tissue inflammation. Both programmes have the potential to address multiple indications and to meaningfully improve patient outcomes where there are currently limited treatment options.
“This financing is a key step in our transition to a clinical-stage company, enabling us to accelerate the development of two oncology and immunology programmes with pan-indication, blockbuster potential, underpinned by a platform that reaches targets long considered undruggable.”
Theodora Harold
Chief Executive Officer of T-Therapeutics
Alongside the Series B financing, T-Therapeutics has further strengthened its leadership team with the appointment of Dr. Kirsty Crame as Chief Development Officer to oversee the translational and clinical development of the company’s pipeline. Dr. Crame previously served as Chief Medical Officer at Curatis AG and brings over 15 years’ experience in novel biopharmaceutical development. She led multiple early-stage clinical programmes at Medigene AG and Gadeta BV, and has particular expertise in TCR-based therapeutics.
Theodora Harold, Chief Executive Officer of T-Therapeutics, continued: “The further strengthening of our team with the appointment of Dr. Kirsty Crame, and the proceeds from this raise, position us well for rapid execution of those programmes and the delivery of important clinical proof-of-concept data. My thanks to our new and longstanding investors, whose confidence in our science enables a next generation of T cell engager therapeutics.”
Following an initial investment in November 2025, the Series B round marks BGF’s latest into female-powered businesses, since committing at least £300 million to the Invest in Women Taskforce’s funding pot last year.
Luke Rajah, Partner on BGF’s Early Stage team, said: “T-Therapeutics is opening an exciting new frontier in drug development, using its unique technology to target proteins that have historically been beyond the reach of conventional medicines. This creates opportunities to develop new treatments for cancer and autoimmune diseases with unmet medical need. Theo and the team have made impressive strides in translating this innovative science into two promising drug programmes, and this financing strengthens an exceptional group of investors to support their progression into the clinic.”
