The proceeds of the round will enable the company to expand and accelerate its clinical stage pipeline of immune mobilizing monoclonal T-cell receptors against cancer, infectious diseases, and autoimmune (ImmTAX) molecules, including its lead program IMCgp100 (tebentafusp). The off-the-shelf platform generates a novel class of bispecific biologics called immune mobilizing monoclonal TCRs against cancer (ImmTAC) molecules that are engineered to redirect the immune system to recognize and kill cancerous cells via an anti-CD3 immune-activating effector function.

The company expects to report interim results from a phase III clinical trial of its lead program soon and plans to submit the data for publication in a peer-reviewed journal. If approved, tebentafusp would be the first new therapy for the treatment of metastatic uveal melanoma in 40 years.

Immunocore has also closed a $100 million senior secured loan which it intends to use for general corporate purposes and to have available as needed to fund the potential commercial launch of tebentafusp.