Novo Holdings, a leading global life sciences investor, has announced its participation in a significant €30M Series A financing round for Asgard Therapeutics, a pioneering biotech company in the field of direct in vivo cell reprogramming for cancer immunotherapy. Co-led by RV Invest and Johnson & Johnson Innovation – JJDC, Inc., with participation from existing investors Boehringer Ingelheim Venture Fund and Industrifonden, this financing is poised to propel Asgard's revolutionary approach towards combating cancer.

Asgard Therapeutics' groundbreaking methodology facilitates the conversion of cancer cells into immune cells within the patient's body, triggering a potent immune response tailored to the individual's tumor. Through extensive preclinical validation encompassing nearly 100 different tumor cells, including human-derived specimens and in vivo models, Asgard has demonstrated the efficacy of its approach in eliciting robust anti-tumor immune responses. Notably, the technology has shown promise in targeting distant tumors lacking transformed cells, underscoring its potential as a pan-tumoral cancer treatment.

Novo Holdings' involvement in this financing round builds upon its longstanding relationship with Asgard, initiated during the seed phase where it provided strategic guidance, development counsel, and networking support. Having previously participated as a founding investor in Asgard's seed financing, Novo Holdings reaffirms its commitment to advancing transformative medical innovation.

"Asgard's pioneering work represents a paradigm shift in immuno-oncology by addressing the formidable challenge of solid tumor heterogeneity through pan-tumoral cell reprogramming," remarked João Ribas, Ph.D., Principal at Novo Holdings, Seed Investments, and Asgard Therapeutics Board Member. "We are delighted to join forces with RV Invest and JJDC in supporting Asgard's mission, and are confident that this financing will facilitate the translation of their groundbreaking technology into clinical reality, ultimately benefiting patients worldwide."

Central to Asgard's approach is the standardized reprogramming of cancer cells into conventional Type 1 Dendritic Cells (cDC1s) within the patient's body. This process, termed direct reprogramming, entails the forced expression of key transcription factors that drive the conversion into a cDC1 phenotype, thereby initiating personalized and systemic anti-cancer immune responses. Asgard aims to achieve Investigational New Drug (IND) readiness for its lead program by 2026, alongside expanding its research and development capabilities and exploring novel reprogramming modalities and delivery platforms.

The company's scientific advancements have garnered recognition in esteemed publications such as Science Immunology, reflecting its commitment to advancing the frontier of cancer immunotherapy.