SQZ Biotech lands $16m in Series B for cell therapy tech

September 30, 2016 By Sarah Faulkner Leave a Comment

SQZ Biotech said today that it closed a $16 million Series B round to fund its preclinical cell therapy programs for oncology and other undisclosed diseases.

NanoDimension and Polaris Partners led the funding for the Boston, Mass.-based biotech startup.

SQZ said it developed a microchip that can open immune cell membranes temporarily and let proteins in that can trigger an immune response against cancer. The cell membrane is gently squeezed open and fragments of proteins from a tumor are taken up by B-cells.

The modified B-cells can train another class of immune cells known as T-cells, to hunt down and destroy the cancerous tissue, according to SQZ.

Other companies, like Novartis and Juno Therapeutics (NSDQ:JUNO), are attempting to use the body’s own immune system to destroy cancer cells by directly modifying T-cells. But it remains unclear how effective these treatments are in the long run and what kinds of cancers they can destroy.

SQZ entered into a $500 million partnership with Roche to address what they see as limitations in the cell therapy industry.

“SQZ has developed a simple, yet immensely powerful method to engineer cells,” NanoDimension’s Eric Moessinger, who joined the SQZ Board of Directors, said in prepared remarks. “I am thrilled to be a part of the SQZ team and look forward to contributing to the evolution of this innovative company.”

“The SQZ team has made remarkable progress,” Polaris Partners venture partner and SQZ executive chair Amy Schulman added. “Soon the real promise of their cell re-engineering technology will be applied across a variety of applications to treat a broad range of ailments. I am confident this technology will represent a meaningful difference in people’s lives.”

SQZ also announced that it hired Kris Elverum as its Chief Business Officer. Elverum led US commercial model development for Novartis’ cell-therapy division, which was recently disbanded.

“Kris’ passion, leadership, and unique experience in cell therapy commercialization, strategy and M&A will be invaluable to SQZ at this time of growth for our company. We are very excited to have him on the team,” CEO Armon Sharei said.

Mojo Vision developing ‘smart’ contact lens
Mojo Vision is working with the FDA to develop a smart contact lens to help people with low vision. The lens overlays real-time contrast and lighting enhancements with zoom functionality and recently won FDA breakthrough device designation. “Receiving the Breakthrough Device Designation is a significant step in our research and development process. We look forward to… […]
FDA to EPA: Leave us out of your ethylene oxide rule
This article has been updated with comments from the FDA. The FDA has asked the Environmental Protection Agency to leave the FDA out of its proposal for stricter regulation of ethylene oxide (EtO) emissions, and the EPA complied. In an interagency comment on the EPA’s proposed rule governing commercial EtO users — which includes medical… […]
Clippart debuts stepper-controlled flow valve
Clippard recently launched a new stepper-controlled proportional valve for precision flow control. The Eclipse valve uses the industry’s most robust and powerful miniature linear actuator, according to Cincinnati-based Clippard. The patent-pending Eclipse is designed for liquid and gas delivery, medical, analytical and industrial automation requiring ultra-fine resolution and repeatability. The design also allows for custom… […]
Supporting regulatory affairs departments to address clinical requirements under new MDR
By Dietmar Falke and Jaap Laufer, Emergo Group The May 25, 2020 MDR deadline is approaching rapidly, and by now many medical device manufacturers are aware that the MDR requires the proactive collection of post-marketing clinical follow-up (PMCF) data. Get the full story here at the Emergo Group’s blog. The opinions expressed in this blog… […]
5 tips to raise funding for your medical device
Securing funding can be a long and tedious process, and medical device businesses must work to position themselves as especially attractive to potential investors to maximize success and accelerate the fundraising process. Jon Speer, Greenlight Guru According to Alejandro Cremades, author of The Art of Startup Fundraising, it can take from six to nine months… […]
FDA recognizes latest ISO 14971 as medical device consensus standard
By Mark Leimbeck and Stewart Eisenhart, Emergo Group The US Food and Drug Administration has granted Recognized Consensus Standard status to the third edition of the ISO 14071 risk management standard for medical devices and IVD products. Get the full story here at the Emergo Group’s blog. The opinions expressed in this blog post are… […]
Synaptive Medical updates Modus V surgical microscope
Synaptive Medical announced that its U.S. and Canadian Modus V robotic digital microscope now includes updates such as additional 3D visualization and voice-activated control. The Modus V is a robotically controlled digital microscope used as part of Synaptive’s BrightMatter surgical suite designed for less invasive, patient-specific approaches in complex cranial procedures. The Modus V provides similar… […]
New machine can preserve donor livers for 1 week
Researchers in Switzerland have built a perfusion machine that can preserve human livers for transplantation for a week or more, potentially slashing the number of donor livers that must be discarded due to time-related deterioration. Existing perfusion technology can preserve a donor liver for up to 24 hours. The team of surgeons, biologists and engineers… […]
Smiths Medical launches Portex tracheostomy tubes and kits
Smiths Medical this week launched its Portex polyvinyl chloride tracheostomy tube and kit portfolio. The new polyvinyl chloride (PVC) tube portfolio has options for a variety of patients, according to the company. “Our goal was to create tracheostomy tubes and kits designed to help clinicians provide the best patient care. We’re excited to offer a variety… […]
FDA clears Cleveland Clinic 3D-printed airway stents
The FDA recently cleared 3D-printed, patient-specific stents developed by a doctor at the Cleveland Clinic. Cleveland Clinic physician Tom Gildea developed the stents to keep open the airways of patients with serious breathing disorders caused by inflammation, trauma, tumors and other masses. Airway stents come in a limited number of sizes and shapes and are… […]
Boston Scientific shares drop on Q4 sales news
Shares in Boston Scientific (NYSE:BSX) dropped 8% this morning on news of disappointing fourth-quarter sales. The company’s preliminary earnings report showed sales for the quarter ended Dec. 31, 2019 coming in at $2.9 billion, below the $2.91 billion that analysts were expecting. The unaudited sales figure represents organic growth of 7.3%, missing the company’s own guidance of… […]