General Catalyst, Parker Institute back Georgiamune’s $75M Series A for cancer, autoimmune trials

Maryland biotech Georgiamune emerged Wednesday with a $75 million Series A, clearance to begin its first clinical trial later this year and a board that includes former deputy FDA commissioner Amy Abernethy.

The thrice-upsized financing will bankroll the start of three clinical trials across various cancers and autoimmune diseases as the biotech looks to “reprogram T cells,” CEO Samir Khleif told Endpoints News. He founded the company out of his lab at Augusta University, where he was the former director of the Georgia Cancer Center.

Georgiamune’s backers include General Catalyst, the Parker Institute for Cancer Immunotherapy, Mubadala Capital, Alexandria Venture Investments, Catalio Capital Management, CJNV BioVenture and Verition Fund Management.

Khleif, who set up the company in 2014 but fully kicked off operations around 2018, said the original goal was a $45 million to $50 million round. But investor interest demanded multiple revisions to that number, with the round closing in the spring of this year. The biotech had raised about $4.5 million in a seed round mainly from friends and family in 2019, he added.

The first clinical trial will test a dual-functioning monoclonal antibody as a monotherapy for adults with various advanced solid tumors for whom checkpoint inhibitors didn’t work. The Phase I/II trial of GIM-122 will begin by year’s end.

By the end of next year, Georgiamune plans to also have two small molecules in the clinic, Khleif said. GIM-531 is a Treg inhibitor for cancer and the other, GIM-407, is a Treg activator for autoimmune diseases, he noted. Beyond that, the CEO said Georgiamune’s pipeline includes five additional antibodies and small molecules in lead optimization stage.

Amy Abernethy

The 25-employee biotech will look to add a few staffers by the end of the year, Khleif said. With pharma companies already expressing interest in Georgiamune’s work, the startup will beef up its business development and clinical infrastructure, he said. The leadership team includes medical chief Sonia Quaratino, who held the same post at Kymab until Sanofi acquired the biotech in 2021.

Aside from the Georgia Cancer Center, Khleif also helped launch the King Hussein Cancer Center in Amman, Jordan.

“I’ve been an entrepreneur. I’ve built multiple institutions, including a couple of cancer centers, a couple of hospitals, from the ground up,” Khleif said. “I love that part of building and, of course, science is my life, so if you can combine both, why not?”

His board includes Abernethy, Parker Institute chair Sean Parker, Inspire Brand CEO Paul Brown, General Catalyst managing director Deep Nishar and SWaN and Legend Venture founder Fred Schaufeld. On the scientific advisory board are former Big Pharma executives like ex-Pfizer medical chief Mace Rothenberg and former Bristol Myers Squibb chief scientific officer Elliott Sigal, among others.

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