LIfT BioSciences raises £10m in first close of Series A to advance first-in-class allogeneic innate cell therapy

• Proceeds will be used to advance the Company’s IMANs into clinical trials
• Raise underpins strong pre-clinical data demonstrating dual mechanism of action of LIfT’s IMANS

London, 24 September 2024– LIfT BioSciences, (‘LIfT’ or ‘the Company’), a rapidly emerging biotech company about to start clinical trials for its first-in-class allogeneic innate cell therapy, today announces it has successfully raised £10 million in the first close of a Series A financing with the second close scheduled for Q1 2025. The financing round was supported by new investor the Sijbrandij Foundation and existing investors Lifespan Vision Ventures, Starbloom Capital and Jonathan Milner.

LIfT is developing a breakthrough allogeneic innate cell therapy platform called Neutrophil Only Leukocyte Infusion Therapy (N-LIfT), that produces a new type of myeloid cell called Immunomodulatory Alpha Neutrophils (IMANs). IMANs are a type of super enhanced neutrophil with a unique dual mode of action that can kill cancer cells both directly and indirectly, through recruiting the patient’s own immune cells by modulating the tumour microenvironment (commonly known as turning “cold” tumours “hot”). The cells are long-lasting and are capable of creating an immune cascade reaction to solid tumours. IMANs kill tumour antigen escape variants that can otherwise form treatment resistant metastasis that are responsible for 90% of solid tumour cancer deaths. The company aims to overcome solid tumour treatment resistance by replacing the pro-tumour immunosuppressive Tumour Associated Neutrophils (TANs), which dominate the Tumour Micro-Environment, with LIfT’s powerful anti-tumour IMANs. By achieving this, the Company aims to more than double patient response to targeted therapies such as checkpoint inhibitors, a $43 billion market, and antibodies including bi-specifics.

The funds raised will be used to advance the Company’s IMANs into clinical trials through a Phase I Investigator Initiated Trial with Galway University. The objectives of this study will be to demonstrate that IMANs are safe and well tolerated and can successfully recruit other immune cells inside the tumour to improve immune infiltration, a major obstacle in the treatment of cancer. The proceeds will also allow LIfT to further develop its N-LIfT platform to secure partnering and licensing agreements with pharmaceutical companies.

Alex Blyth, Chief Executive Officer of LIfT BioSciences, commented: “This successful raise in the first close of our Series A marks a key step toward our plans to advance our IMANs into clinical trials. With the strong pre-clinical data that that we continue to amass, we believe that our N-LIfT platform can make a real difference in cancer and other disease areas. We continue to progress discussions with pharma companies to secure potential licensing and partnership deals to that end. I would like to thank our investors for their ongoing support and look forward to providing further updates as we move towards clinical trials.”

Ivan French, Chief Executive Officer of the Sijbrandij Foundation commented: “We have been very encouraged by the pre-clinical data generated by LIfT to date showing that their IMANs have the ability to successfully recruit other immune cells inside tumours to improve infiltration. We are looking forward to supporting the Company as it works towards its mission of curing solid tumours.”

Andrew Worden, Founding Partner of Lifespan Vision Ventures, commented: “We are committed to supporting LIfT in bringing its first-in-class immuno-modulator to clinic to help overcome tumour treatment resistance and rejuvenate patient’s immune response. We are also excited by the potential wider application this novel immuno-modulating therapy could have in the future”.

About LIfT BioSciences
LIfT Biosciences is a UK & Ireland biotech that is bringing to market a first-in-class alpha neutrophil cell therapy that overcomes treatment resistance in solid tumours. LIfT’s Immunomodulatory Alpha Neutrophils (IMANs) turn the tumour microenvironment against the tumour as they recruit the rest of the immune system to destroy the tumour to give a durable response and lasting immunity. The patented breakthrough N-LIfT platform is produced from a patented process using exceptional stem cells (iPSC or HSC), a proprietary enhancement media and genetic engineering.

The company is preparing initiatives with a range of pharmaceutical license partners to develop a portfolio of engineered CAR IMAN cell therapies to destroy a range of solid tumours. See www.liftbiosciences.com.

Further information
Investors:
Alex Blyth
+44 (0)7718 759116
ablyth@LIfTBioSciences.com

Media:
ICR Consilium
Lindsey Neville, Namrata Taak
liftbiosciences@consilium-comms.com