Proceeds from the financing will support the company's development of a B-cell maturation antigen (BCMA)-specific chimeric antigen receptor (CAR)-modified T-cell therapy called CART-ddBCMA. The agent is currently in a phase I clinical trial for the treatment of relapsed and refractory multiple myeloma and is expected to begin a pivotal trial in 2022.

Furthermore, the funding will support the initiation of clinical trials evaluating ACLX-001 and ACLX-002, cell therapies derived from the company's controllable ARC-SparX platform. This agent is targeted at the treatment of multiple myeloma and acute myelogenous leukemia, respectively.

The series C financing was co-led by Samsara BioCapital and CAM Capital.