British Patient Capital invests in Quell Therapeutics’ $156m funding round through Future Fund: Breakthrough

British Patient Capital announces its participation in Quell Therapeutics’ Series B funding round as Quell announces the close of the round at $156m. The deal is the first life sciences  investment from Future Fund: Breakthrough, a £375m programme where British Patient Capital co-invests with private sector investors in innovative R&D-intensive UK companies.

Quell Therapeutics (“Quell”), which is based at the Translation & Innovation Hub in London, is a leader in the development of engineered T-regulatory (Treg) cell therapies for serious medical conditions driven by over activity of the immune system. Quell’s platform technology enables it to design, engineer and manufacture at scale therapeutic Treg products, which have greater stability, persistence and potency than earlier generations. One potential use of Quell’s cell therapies is to prevent the need for lifelong immunosuppression treatment after organ transplantation. This would improve the quality of life for patients, by reducing the risks of transplant rejection and side effects caused by chronic immunosuppression treatment while at the same time reducing the costs of care.

Judith Hartley, CEO, British Patient Capital said: “Future Fund: Breakthrough was established to help UK R&D intensive companies raise the patient capital they need, to fuel the later stages of their growth. In doing so, our aim is to help ensure the UK is a world leader in the industries of the future. Through our investment in Quell, we are supporting the continued growth of a UK life sciences leader, at the forefront of a new wave of cell therapy. Their transformative therapies have the potential to address major unmet medical needs. We look forward to seeing how the company develops.”

Iain McGill, CEO, Quell Therapeutics: “We are proud to have the support of British Patient Capital as part of a premiere syndicate of investors as we drive forward to our next stage of growth. With this financing, we have the full suite of capabilities – capital, cutting-edge science originating from leading UK and European universities, and a world-class team – to advance our pipeline and platform to key milestones on our path ultimately to deliver potentially transformative therapies to patients suffering from diseases caused by immune dysregulation.”