T-Therapeutics Raises $133 Million to Take TCR Bispecifics Into the Clinic

T-Therapeutics has raised $133 million in an oversubscribed Series B financing to move its first two T-cell receptor (TCR) bispecific programs, one in cancer and one in autoimmune disease, into the clinic and generate clinical proof-of-concept data.¹ Advent Life Sciences and British Business Bank co-led the round. New investors JJDC, Samsara BioCapital, M Ventures, and Eli Lilly and Company joined existing backers including Sofinnova Partners, F-Prime, Digitalis Ventures, Cambridge Innovation Capital, Sanofi Ventures, Tencent, and BGF.¹

“This financing is a key step in our transition to a clinical-stage company,” said Theodora Harold, chief executive officer of T-Therapeutics.¹

How does the platform work?

The Cambridge, UK-based company builds TCR-CD3 bispecifics, which pair a TCR with its own next-generation CD3-binding T-cell engager.² Its OpTiMus platform generates fully human TCRs, which the company says opens access to validated but previously undruggable intracellular targets.¹˒²

Most antibodies, including most approved T-cell engagers, can only bind proteins on the cell surface. TCRs instead recognize peptide fragments presented by major histocompatibility complex (MHC) molecules. In a BioPharm International® Q&A, Johanna K. Kaufmann, PhD, chief scientific officer of Deck Bio, explained that these peptide-MHC (pMHC) complexes “display a sample of intracellular proteins on the cell surface,” giving TCR-based drugs a much larger pool of potential tumor targets.

The approach has clinical precedent. FDA approved Immunocore’s Kimmtrak (tebentafusp-tebn) in January 2022 for adults with HLA-A*02:01-positive unresectable or metastatic uveal melanoma, making it the first TCR therapeutic approved by the agency and the first bispecific T-cell engager approved for a solid tumor.³ Because TCRs recognize peptides in the context of specific human leukocyte antigen (HLA) types, Kimmtrak is limited to patients who carry that HLA allele.³

TCR-based molecules also bring development hurdles. “Historically, soluble TCRs have suffered from low manufacturing yields and poor stability,” Kaufmann said in the same interview, describing a challenge her own company is working to address with stabilization technology.

What are the lead programs?

The lead oncology program, TTX-008, targets what the company describes as a pan-tumor driver with potential across multiple solid tumor types.²˒⁴ The lead immunology program, TTX-018, is designed to reset the immune system by selectively depleting the pathogenic immune cells that drive chronic tissue inflammation.¹˒⁴ T-Therapeutics has not disclosed the specific targets for either program, and neither has entered human testing.⁴

Dominic Schmidt, general partner at Advent Life Sciences, said T-cell engagers “have delivered clinical success in haematological cancers but have been held back in solid tumours.”¹ He told BioPharma Dive that the limitation has been “the lack of appropriate targets.”⁴

Interest in T-cell engagers from large pharmaceutical companies remains strong. Last month, BioPharm Internationalreported that Roche licensed Zymeworks’ DLL3-targeted trispecific T-cell engager ZW209 in a deal worth up to $813 million.

Who is joining the company?

T-Therapeutics appointed Kirsty Crame as chief development officer to lead translational and clinical development.¹ Crame was previously chief medical officer at Curatis AG and has led early-stage clinical programs at Medigene AG and Gadeta BV.¹ “I am delighted to join T-Therapeutics at this pivotal moment for the Company,” Crame said.¹ Representatives from Advent Life Sciences, British Business Bank, JJDC, and Samsara BioCapital will join the board as non-executive directors.¹

The Series B follows a $91 million Series A, which the company reached in November 2025 after adding $32 million from Tencent and BGF to its initial $59 million round.² The new financing brings T-Therapeutics’ disclosed funding to about $224 million. The round also stands out for the UK market, where companies raised $3.1 billion across 58 venture rounds since the start of 2025, according to a J.P. Morgan report cited by BioSpace.⁵

What happens next?

T-Therapeutics will use the proceeds to bring both lead programs into clinical trials and generate proof-of-concept data in cancer and autoimmune disease.¹ Harold said the funding will accelerate development of two programs with broad market potential, “underpinned by a platform that reaches targets long considered undruggable.”⁵

References

1. T-Therapeutics announces oversubscribed $133 million Series B financing to achieve clinical proof-of-concept for first-in-class TCR bispecific therapies in cancer and autoimmune disease. News release. T-Therapeutics; November 5, 2026. Accessed November 6, 2026.
2. T-Therapeutics announces Series A extension to $91 million to advance first-in-class bispecifics towards the clinic. News release. Cambridge Enterprise; November 13, 2025. Accessed November 6, 2026.
3. FDA approves tebentafusp-tebn for the treatment of unresectable or metastatic uveal melanoma. The ASCO Post. Published February 25, 2022. Accessed November 6, 2026.
4. Wu G. T-Therapeutics reloads with a $133M megaround for bispecifics. BioPharma Dive. Published November 5, 2026. Accessed November 6, 2026.
5. Masson G. T-time: British biotech pours $133M into the pot for bispecifics. BioSpace. Published November 5, 2026. Accessed November 6, 2026.