The UK’s Cell Medica has raised £50 million to advance its cancer immunotherapy programmes.

The cash has been raised through a series B investment round involving Imperial Innovations, Invesco Perpetual and Woodford Investment Management. Cell Medica said the funds will be used to progress the development of cellular immunotherapy products “with the potential to transform the treatment of cancer and infectious diseases”.

The London-headquartered company’s lead oncology product, CMD-003, is in Phase II for the treatment of patients with advanced lymphomas associated with the Epstein Barr virus. Comprised of the patient’s own immune cells, “CMD-003 offers the potential for a targeted approach to cancer treatment with very limited side effects or toxicities,” Cell Medica noted.

Chief executive Gregg Sando said that immunotherapy is “one of the most exciting and fast-moving areas in cancer research right now, and Cell Medica is at the forefront of developing a new paradigm for the safe and effective treatment of patients with advanced lymphomas”.