Norwalk, CT, February 10, 2022—The Myeloma Investment Fund (MIF), the Multiple Myeloma Research Foundation’s (MMRF) venture philanthropy subsidiary, today announced its portfolio company Indapta Therapeutics, Inc., has raised more than $50 million in Series A-1 financing and made new appointments to its executive leadership. Indapta is a San Francisco, CA-based biotechnology company focused on developing and commercializing a proprietary NK (natural killer) cell therapy platform for the treatment of blood and solid tumor cancers.
Indapta’s platform involves the isolation and expansion of a subset of NK cells known as G-NK cells, which have increased potency relative to conventional NK cells. Because the G-NK cells have very active antibody-dependent cellular cytotoxicity, they have the potential to provide substantial clinical benefit to patients when used in combination with monoclonal antibodies. The MIF was the first institutional investor in Indapta, providing funding to support the advancement of the company’s universal G-NK cell therapy for the treatment of patients with multiple myeloma.
“The MIF is designed to accelerate the development of novel therapies for myeloma patients by investing in the most innovative companies, clinical assets, and technologies,” said Michael Andreini, President and CEO of the Multiple Myeloma Research Foundation. “Indapta is one such company with an early-stage immunotherapy platform that is attracting additional investment from the biotech and venture capital community. I am thrilled to have these new investors join us as the MIF continues to support Indapta’s development of their G-NK cell therapy for myeloma.”
With this latest round of financing, the MIF is joined by new investors to advance Indapta’s allogeneic NK cell platform toward an Investigational New Drug Application (IND) and clinical trials. The financing was co-led by RA Capital Management, LP, Vertex Ventures HC and Leaps by Bayer, the impact investment arm of Bayer AG. The MIF and Lonza also participated in the round. In conjunction with the financing, Indapta has appointed Mark W. Frohlich, M.D., Chief Executive Officer. Dr. Frohlich, who is also joining Indapta’s Board of Directors, succeeds founding Chief Executive Officer and Co-founder Guy DiPierro, who will take on the position of Chief Strategy Officer.
“Indapta’s G-NK cell therapy platform is an exciting new approach to treating cancers, including myeloma, by boosting the immune system’s cancer fighting activity. Their recent preclinical work is encouraging, and I look forward to see this promising technology move into the clinic with the funding secured in this round,” said Peter Kosa, Ph.D., Managing Director of the Myeloma Investment Fund. “We are excited to be joined by this outstanding group of investors to help advance this innovative therapeutic approach for the benefit of patients.”
Learn more about Indapta’s announcement here.
About the Myeloma Investment Fund
The Myeloma Investment Fund (MIF) is a venture philanthropy fund, started by the Multiple Myeloma Research Foundation (MMRF), that invests in promising companies, clinical assets, and technologies in oncology to accelerate the delivery of precision medicine approaches and a cure to every multiple myeloma patient. The MIF collaborates closely with portfolio companies to help them advance multiple myeloma research, providing strategic support with the benefit of the MMRF’s longstanding relationships. This evergreen fund is supported entirely by philanthropy; all profits will be reinvested back into research for more effective treatments until there is a cure for every patient. For more information, visit MyelomaInvestmentFund.org.
