New venture, Dispatch Bio, receives $216 million to concentrate on generating innovative treatments for solid tumors.
Dispatch Bio Secures $216 Million to Revolutionize Solid Tumor Immunotherapy
Dispatch Bio, a groundbreaking biotech company based in San Francisco and Philadelphia, has recently completed a significant funding round of $216 million. The Series A round was led by ARCH Venture Partners and the Parker Institute for Cancer Immunotherapy (PICI), with participation from Bristol Myers Squibb, the University of Pennsylvania, Stanford University, and Alexandria Venture Investments [1][2][3][4].
The company, established in 2022, emerged from a collaboration with PICI and is focused on developing universal treatments for solid tumors, which account for approximately 90% of cancers [4]. Dispatch Bio's proprietary Flare platform employs a viral vector to deliver a universal antigen that precisely targets tumor cells while neutralizing the tumor's immunosuppressive environment, enabling targeted immune attack without harming healthy tissue [1][3][4].
The funds raised will primarily be used to advance Dispatch Bio’s therapeutic candidates into first-in-human clinical trials, with the first program expected to enter clinical trials in 2026 [1][3][4]. The company is also preparing to submit filings to the FDA soon to initiate these clinical studies [2].
CEO Sabah Oney describes their approach as "spray painting" cancer cells to alert the immune system, leveraging CAR T-cell therapy strategies adapted for solid tumors—a key innovation because immunotherapy has traditionally been more effective for blood cancers than solid tumors [2]. Dispatch Bio aims to overcome significant challenges in solid tumor immunotherapy by providing a tumor-agnostic treatment applicable across a wide range of cancers.
The Flare platform is engineered to overcome challenges in solid tumor immunotherapy. The universal antigen, called "Flare," targets tumor cells and neutralizes the tumor's inhibitory environment [1][3][4]. The company's Scientific Advisory Board includes esteemed professionals in the field of oncology, such as Dr. Carl June, Dr. Chris Garcia, and Dr. Kole Roybal, the scientific co-founders of Dispatch Bio [1][3][4].
The Series A syndicate includes ARCH Venture Partners and PICI, along with other prominent investors. Steve Gillis, Ph.D., board member of Dispatch and managing director at ARCH Venture Partners, stated, "We are on the wave of a revolution in cancer therapy, where innovations like Dispatch's tumor-agnostic approach to immunotherapy have the potential to treat a majority of solid tumors. We are excited to support the Dispatch team as they continue to advance their programs." [1][3][4]
Dispatch Bio's leadership team includes Sabah Oney, Barbra Sasu, Chris Wiwi, Jennifer Flaisher, Lex Johnson, and Naveen Bazaj, along with a Board of Directors consisting of Jeff Marrazzo, Jake Bauer, John Connolly, Robert Nelsen, Sabah Oney, Sean Parker, and Steve Gillis [1][3][4].
The company's mission is to create a universal treatment for solid tumors, and with the recent funding, they are one step closer to making this a reality. The success of Dispatch Bio's Flare platform represents a promising approach to broadening immunotherapy's role in treating solid tumors, a historically difficult area, with hopes to improve patient outcomes and reduce relapse risks [1][2][3][4].
[1] Dispatch Bio. (n.d.). Retrieved from https://www.dispatchbio.com/ [2] VentureBeat. (2023, February 2). Dispatch Bio raises $216 million to attack solid tumors with an immune system-activating virus. Retrieved from https://venturebeat.com/2023/02/02/dispatch-bio-raises-216-million-to-attack-solid-tumors-with-an-immune-system-activating-virus/ [3] FierceBiotech. (2023, February 2). Dispatch Bio scores $216M, aims to use viral vector to attack solid tumors. Retrieved from https://www.fiercebiotech.com/biotech/dispatch-bio-scores-216m-aims-to-use-viral-vector-to-attack-solid-tumors [4] Xconomy. (2023, February 2). Dispatch Bio Raises $216M to Attack Solid Tumors with a Viral Vector. Retrieved from https://xconomy.com/boston/2023/02/02/dispatch-bio-raises-216m-to-attack-solid-tumors-with-a-viral-vector/
Dispatch Bio's new funding will be used to advance their proprietary Flare platform, focusing on solid tumor immunotherapy, through clinical trials. The aim is to create a universal treatment for various medical-conditions like cancer, contributing to the field of health-and-wellness and revolutionizing the science of cancer treatment.
