Biotech firm WindMIL Therapeutics raised $32.5 million in Series B funding. Before this, WindMIL was backed by a Series A round worth $11 million
The company is based in Baltimore. The team will use the funds to conduct clinical trials and advance cancer treatments.
The round was led by QiMing USA Venture Partners. Other investors include Medivate Partners, Camden Partners Nexus, the Kinneret Group, Domain Associates, Fox Kiser, and Silver Rock Financial.
The new funding will help WindMIL support clinical trials for marrow-infiltrating lymphocytes (MILs) with solid tumors.
CEO Brian Halak said the biotech will continue to develop genetically modified MILs, a novel cell therapy used to treat different kinds of cancers.
According to the WindMIL website: “MILs represent a novel class of cell therapy. While the vast majority of cell therapy approaches rely on lymphocytes derived from the periphery, MILs are derived from the bone marrow. This is important, because, put simply, in cell therapy…cell source matters.”
“We’ve been doing pre-clinical work over last couple years, so we’re ready and excited to move forward in these areas,” said Mr. Halak.
He added: “There are a lot of cell therapy companies out there, but MILs is really a new class of cell therapy, and we want to expand the areas in which MILs are being explored and used.”
The CEO plans to increase the size of the WindMIL team in the future. Currently, the company has 12 employees who work at Hopkins’ FastForward incubator and lab space in East Baltimore.
WindMIL was co-founded by Ivan Borrello and Kimberly Noonan. The two worked at the Johns Hopkins University School of Medicine to perfect the activation and expansion of cells they called MILs.
WindMIL owns exclusively licensed intellectual property related to the novel concept.
If approved, the new concept could change the face of immunotherapy for cancers.