Novascenta

Novasenta Inc. is a clinical-stage biotechnology startup focused on the discovery and development of novel cancer therapy targets. The firm’s target discovery platform maps the tumor microenvironment (a network of cells and structures that surround and interact with tumor cells inside the body) to develop immunotherapies that help a patient’s own immune system fight cancer. As of August 2022 the company had three immuno-oncology programs in its pipeline and plans to advance at least one target into clinical trials by 2024.

Key customers and partnerships

The firm’s technology was built on decades of research in the fields of tumor biology, immunology, computational biology and drug discovery at the Hillman Cancer Center and the University of Pittsburgh. Novascenta's relationship with University of Pittsburgh Medical Center (UPMC), the largest health system network in Pennsylvania, has enabled the company to access human tumor samples across a variety of solid tumor types at various stages of disease, facilitating the discovery of new druggable targets.

Funding and Financials

In August 2022, the firm raised USD 40 million in a Series A funding round led by UPMC Enterprises, the venture capital arm of the University of Pittsburgh Medical Center. The funds were allocated towards advancing its pipeline of antibody-based therapies and expanding its target discovery platform, as well as increasing its workforce.