Umoja Biopharma Announces Oversubscribed $100 Million Series C Financing To Advance In Vivo CAR T Pipeline Through Key Oncology Clinical Milestones

(MENAFN- GlobeNewsWire - Nasdaq) Series C financing co-led by Double Point Ventures and DCVC Bio

Proceeds to support the clinical development of VivoVecTM derived in vivo CAR T cells

SEATTLE, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Umoja Biopharma, Inc. (Umoja), the clinical-stage leader of in vivo cell therapies that aim to realize the full reach and promise of CAR T cells, today announced the closing of a $100 million Series C financing. The financing was co-led by Double Point Ventures and DCVC Bio, with participation from new and existing investors including ARK Invest, Cormorant Asset Management, MPM Capital, Qiming Venture Partners USA, RTW Investments, Alexandria Venture Investments, SoftBank Vision Fund 2, CaaS Capital, Emerson Collective Investments managed by Yosemite, K2 HealthVentures, Myeloma Investment Fund, University of Minnesota Endowment, and other prominent life science investors.

The proceeds from this financing will enable Umoja to advance its in vivo CAR T cell therapy pipeline, including its lead CD22 UB-VV400 program in multiple oncology and autoimmune clinical studies.

In conjunction with the Series C financing, Umoja's Board of Directors is pleased to welcome Campbell Murray, M.D., a Senior Adviser at Double Point Ventures, as a new Board member.

“It is an honor to co-lead this transformative investment round and to join Umoja's Board of Directors,” stated Dr. Murray.“Umoja's groundbreaking work on in vivo CAR T cell therapies represents a new frontier in oncology and autoimmune treatment. The company's innovation and leadership team position them at the forefront of this field, with the potential to significantly impact patients' lives. I look forward to collaborating with Umoja's exceptional team, investor base, and Board to advance these pioneering programs through clinical development and beyond.”

“We are pleased to announce the closing of our Series C financing with tremendous support from both new and existing investors who recognize Umoja's potential to develop the industry's first in vivo CAR T cell generating therapies-all in the hopes of increasing effectiveness, reducing barriers, and expanding access to CAR T cell therapies,” commented Andrew Scharenberg, M.D., co-founder and Chief Executive Officer of Umoja Biopharma.

Additionally, Dr. Phil Low of Purdue University transitioned to Board Observer and Chair of Umoja's Scientific Advisory Board.

Scott Myers, chairman of Umoja's Board of Directors, added“This Series C fundraise demonstrates both the progress and significant potential of Umoja's in vivo oncology programs including UB-VV400 and UB-VV111. Generating CAR T cells directly in vivo is the future of immunotherapy treatment, bringing the hope and promise of CAR T cell therapies to more patients without the burdens of long delays, supply chain constraints, and the toxicities associated with lymphodepleting chemotherapy.”

About Umoja Biopharma
Umoja Biopharma, Inc. is a clinical-stage biotechnology company aiming to develop in vivo cell therapies that improve the reach, effectiveness, and access of CAR T cell therapies in both oncology and autoimmunity. Umoja's VivoVecTM in vivo gene delivery technology empowers a patient's own immune system to fight disease. Enabling its core technology is the Company's state-of-the-art lentiviral vector development and manufacturing facility in Louisville, Colorado. Umoja believes its approach can provide broader access and improved effectiveness of the most advanced immunotherapies, enabling more patients to live better, fuller lives. To learn more, connect with Umoja on LinkedIn and visit .

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