Pittsburgh biotech company Novasenta Inc. raised $40 million in Series A funding in July 2022. The funding round was led by UPMC Enterprises, the venture capital arm of UPMC. Novasenta was founded in 2018 by three UPMC Hillman Cancer Center/University of Pittsburgh doctors and uses tumor tissue to research and identify immune cell targets in the hopes of creating new immune cell therapy treatments for cancer. The company employs 28.
What does it feel like to raise the amount of funding your company has raised thus far?
We feel privileged to have UPMC Enterprises as our investor and collaborator as we advance our programs to bring newer therapies to help patients with cancer.
How will this funding further grow the company?
1. Advance our lead program into studies to support regulatory filings to initiate clinical trials in patients, and 2. grow our pipeline by expanding our new target discovery efforts.
What role, if any, does Pittsburgh play in your company’s efforts to secure funding?
We work closely with our founders (Drs. Robert Ferris, Dario Vignali and Greg Delgoffe) at UPMC as well as our investors, UPMC Enterprises — both being absolutely critical from inception and to supporting Novasenta’s future endeavors.
— Mani Mohindru, CEO
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