Penn Medicine makes first investment in faculty member's drug company
Tmunity Therapeutics Inc., a Philadelphia company founded last year to build on research at the University of Pennsylvania's Center for Cellular Immunotherapies, said it received a $10 million investment from Penn Medicine and Lilly Asia Ventures, an affiliate of drugmaker Eli Lilly & Co.
Tmunity Therapeutics Inc., a Philadelphia company founded last year to build on research at the University of Pennsylvania's Center for Cellular Immunotherapies, said it received a $10 million investment from Penn Medicine and Lilly Asia Ventures, an affiliate of drugmaker Eli Lilly & Co.
Gene therapy pioneer Carl June, who has led Penn's immunotherapy trials for more than two decades, cofounded Tmunity, which is working on therapies that enable a person's immune system to fight disease.
This is the first time Penn Medicine, which includes the University of Pennsylvania Health System and the university's Perelman School of Medicine, has invested in a firm cofounded by Penn faculty and researchers.
Penn and Lilly each put in $5 million.
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