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January 13, 2025

Boston/New Haven-based biotech closes $75M in Series B financing

Contributed Dr. Lieping Chen.
By David Krechevsky

Normunity Inc., a biotech creating anti-cancer immunotherapies, announced Monday it has closed a $75 million Series B financing round.

The round was co-led by new investors Samsara BioCapital and Enavate Sciences, along with Regeneron Ventures, Pfizer Ventures and YK Bioventures. Existing investors also participated, including Canaan Partners, Sanofi Ventures, Taiho Ventures, Osage Venture Partners, HongShan Capital Group and Connecticut Innovations. 

As a result of the financing round, Normunity’s board of directors will be expanded to include David Parry, of Samsara; Dr. Sara Nayeem. of Enavate; and Dr. Marie-Clare Peakman, of Pfizer Ventures.

The biotech was founded in October 2022 with a $65 million Series A financing round. 

The company is based in Boston and had a research facility with office and lab space on Yale’s West Campus, at 520 West Campus Drive in West Haven, but has since relocated to 101 College St. in New Haven.

Normunity’s pipeline is based on Yale research and the work of Dr. Lieping Chen, an immunologist at the Yale School of Medicine who is focused on basic T cell biology and cancer immunology. The company will have an ongoing collaboration with Yale School of Medicine.

The company said proceeds from the financing round will be used to advance Normunity’s lead program, NRM-823, a first-in-class T-cell engager that binds a novel, highly specific tumor target expressed on multiple types of solid tumors. 

“With our proprietary target discovery process, we will continue to build our pipeline around novel targets, with new biological insights that could translate into life-changing medicines for cancer patients.” said Dr. Rachel Humphrey, founding CEO of Normunity.

Note: This article has been updated to reflect Normunity's relocation of its Connecticut facilities to New Haven.

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