INKT - MiNK Therapeutics Announces $5.8 Million Private Placement and Appointment of Board Observer | Benzinga
- Financing of $5.8 Million at a 25% premium will help advance the clinical development of MiNK-215, an armored-FAP-CAR-iNKT
- GKCC, LLC joins as a new investor with Katie Chudnovsky appointed as a Board Observer
NEW YORK, May 13, 2024 (GLOBE NEWSWIRE) -- MiNK Therapeutics, Inc. (NASDAQ:INKT), a clinical-stage biopharmaceutical company pioneering the discovery, development, and commercialization of allogeneic, off-the-shelf, invariant natural killer T (iNKT) cell therapies to treat cancer and other immune-mediated diseases, today announced that it has entered into a stock purchase agreement to sell securities in a private placement financing (PIPE) for $5.8 million. This capital injection is earmarked for accelerating the clinical trials of MiNK-215, our leading allogeneic CAR-iNKT cell therapy targeting fibroblast activation protein (FAP) in solid tumors, which is planned to enter the clinic in early 2025.
"This funding will help advance our unique armored iNKT therapy MiNK-215," said Dr. Jennifer Buell, President and Chief Executive Officer at MiNK. "MiNK-215 is a novel cell therapeutic with the potential to overcome the limitations of traditional immune checkpoint inhibitors in solid tumors. Recent data highlighted MiNK-215's activity to eradicate tumor cells in a model of MSS colorectal cancer with metastatic liver disease, a critical and growing area of unmet need. We are excited to partner with GKCC and committed to advancing our ...