December 1, 2016 – Watertown, MA – SQZ Biotech announced today an additional $8 million
in Series B financing from GV (formerly known as Google Ventures) and Quark Venture Inc.
The funding augments an earlier closing of $16 million led by NanoDimension and Polaris Partners in September 2016. SQZ Biotech is developing a new generation of cell therapies that harness the body’s natural immune system to combat disease. SQZ will utilize the Series B funds to further invest in the platform and advance its preclinical immuno-therapy programs in oncology and other serious diseases.
“This is exactly the kind of groundbreaking technology the Quark Venture Global Health
Sciences Venture Fund was set up to support. The technology that originates out of Drs. Jensen and Langer’s laboratories finds a new and efficient way to get molecules into cells,” said Karimah Es Sabar, Chief Executive Officer of Quark Venture. “This is a game changer that has the potential to enable new, high profile therapeutic approaches to address our most challenging diseases. We are pleased to join other significant investors and to partner with the team at SQZ Biotech.”
Within the last year, SQZ has entered a $500M partnership with Roche, executed on more than 10 industry collaborations, and demonstrated proof-of-concept for multiple novel cell
therapies. Scientists from SQZ and its collaborators have published findings in a variety of high profile scientific publications, including a recent review article in Nature. The company has also received grants of more than $2 million in addition to the funding.
“We are very excited to have Quark Venture and GV in our investment syndicate,” said Dr.
Armon Sharei, Co-Founder and CEO of SQZ Biotech. “They join a renowned group of
experienced investors who are supporting this transformative technology with both capital and counsel, and we look forward to building our innovative cell therapy company together.”
About SQZ Biotech
Discovered at the Massachusetts Institute of Technology (MIT) by Drs. Klavs Jensen, Robert
Langer, and Armon Sharei, the SQZ Biotech platform is a proprietary membrane disruption
technology dubbed CellSqueeze. The technology’s unique cell engineering capabilities are being used to develop the next generation of cell therapies. Through internal research programs and external partnerships, SQZ is leading a revolution in scientists’ approach to disease research and clinical therapies, developing novel methods to engineer cell function and harness the power of a patient’s own cells to combat disease more effectively across a broad range of indications. For more information please visit www.sqzbiotech.com.
GV provides seed, venture and growth stage funding to the most innovative and promising
entrepreneurs across a variety of industries. Founded in 2009, GV has extensive entrepreneurial experience, deep technical knowledge, and expertise in building high growth, scalable products and companies. Among its 300+ investments are Uber, Flatiron Health, DocuSign, and Slack. GV is headquartered in Mountain View, Calif., with offices in Boston, New York, and London. For more information, please visit www.gv.com.
About Quark Venture
Quark Venture Inc. is focused on equity financing of innovative biotechnology and health
sciences companies with breakthrough technology platforms and projects. Last month, Quark Venture and GF Securities Company Limited, a leading investment bank in China, announced a new US$500 million global health sciences venture fund that invests globally in a diversified portfolio of innovative biotechnology and health sciences companies who are addressing unmet medical needs through innovations in drug development, medical devices, health IT and emerging convergent technologies. For more information on Quark Venture visit www.quarkventure.com
Polaris Partners for SQZ Biotech