Century Therapeutics secures $135 million private placement financing to support CNTY-813, a potentially curative therapy for Type 1 Diabetes.
The financing includes leading investors like TCGX, RA Capital Management, Commodore Capital, Deep Track Capital, RTW Investments, Venrock Healthcare Capital Partners, and the T1D Fund.
Proceeds from the placement will extend cash runway to Q1 2029 with significant milestones expected in 2026 and 2027.
Financing Details
Initial gross proceeds of approximately $135 million with future potential additional proceeds of $153 million from warrant exercises.
Investor Confidence
High-level investor support signifies confidence in Century's potential therapies for high-impact diseases.
Development Timeline
Anticipated IND submission for CNTY-813 in 2026 and initial clinical data expected in 2027.
- The private placement enhances Century's financial stability to advance its lead product candidate, CNTY-813, towards potential commercialization.
- Investor interest reflects optimism in Century's approach to developing iPSC-derived cell therapies for autoimmune diseases and cancer.
Century's successful financing demonstrates strong support for its innovative therapies targeting Type 1 Diabetes and other high-impact diseases. The funding sets the stage for key milestones in the upcoming years, reinforcing confidence in Century's development pipeline.