Business
TScan Therapeutics Reports Second Quarter 2021 Financial Results and Highlights Recent Company Progress
Debuted as Publicly Traded Company and Raised $100 Million in Gross Proceeds to Fund Liquid and Solid Tumor Programs IND Submissions Expected in Fourth
About this update from Tscan Therapeutics, Inc.
[{"type":"text","content":"Debuted as Publicly Traded Company and Raised $100 Million in Gross Proceeds to Fund Liquid and Solid Tumor Programs IND Submissions Expected in Fourth Quarter 2021 for Lead Liquid Tumor TCR-T Therapy Candidates, TSC-100 and TSC-101 WALTHAM, Mass., Aug. 19, 2021 (GLOBE NEWSWIRE) -- TScan Therapeutics, Inc. (Nasdaq: TCRX) (TScan or the Company), a biopharmaceutical company focused on the development of T-cell receptor (TCR) engineered T cell therapies (TCR-T) for the treatment of patients with cancer, today reported financial results for the quarter ended June 30, 2021, highlighted recent program progress, and outlined key upcoming milestones. “TScan achieved significant milestones this quarter, including the completion of our IPO that provided additional capital to execute on our long-term goals of advancing transformational TCR-T therapies for patients,” said David Southwell, Chief Executive Officer and President at TScan. “We are on track in advancing our early-stage pipeline of liquid and solid tumor TCR-T therapy candidates to the clinic. Specifically, we plan to complete IND-enabling studies for our lead liquid tumor candidates, TSC-100 and TSC-101, and submit IND applications to the FDA during the fourth quarter. Additionally, we continue to progress our solid tumor program with the ongoing discovery of novel shared T cell targets and are advancing our TSC-200 series candidates against four targets with a goal to treat patients with multiplexed therapy.” Second Quarter 2021 and Recent Business Highlights Financial and Corporate In July 2021, TScan completed its initial public offering (IPO), raising $100 million in aggregate gross proceeds, before deducting underwriting discounts and commissions and offering expenses, and began trading on The Nasdaq Global Market. The IPO followed the closing of a Series C preferred stock financing of $100 million in gross proceeds in January 2021.In July 2021, Gavin MacBeath, Ph.D., TScan’s Chief Scientific Officer, presented findings from TScan’s work to discover the targets of T cells in recovering COVID-19 patients at the Cell-Mediated Therapies for Infectious Disease Summit. The presentation also featured in vitro data comparing several polyepitope T-cell vaccine candidates based on the Company’s novel T cell target discoveries.In May 2021, TScan appointed Brian M. Silver as Chief Fin...