WindMIL Therapeutics Announces $32.5 Million in Series B Financing

Therapeutics, a clinical stage company developing
Marrow-Infiltrating Lymphocytes (MILs™) for cancer immunotherapy, today
announced the completion of a $32.5 million Series B financing led by
Qiming Venture Partners USA. Other new investors included Medivate
Partners and Camden Partners Nexus. Existing investors Domain Associates
and FOXKISER also participated in WindMIL’s Series B financing.

Memory T cells are believed to generate the immune system’s most
effective killers, and the role of the bone marrow in the formation and
maintenance of memory T cells has become increasingly well-understood.
Pre-clinical studies have demonstrated the bone marrow of patients with
both hematologic and solid tumors contain memory T cells that can
recognize and destroy tumor cells. WindMIL’s founders, Ivan Borrello,
M.D. and Kim Noonan, Ph.D., have perfected an efficient and rapid
process to extract, activate and expand these bone marrow-derived T
cells. The result of this process is called Marrow Infiltrating
Lymphocytes or MILs™. WindMIL is developing MILs™ in several embodiments
to treat cancer.

“This round of funding will support the continued development of MILs™
both in their unmodified and genetically-modified forms,” said Brian
Halak, Ph.D., Chief Executive Officer of WindMIL. “A Phase 2,
multi-center, randomized investigator-sponsored trial is underway
treating high-risk multiple myeloma. In the near future, we plan to
begin clinical trials to study MILs™ in solid tumors. Preclinically, we
are excited by the data we have been generating to demonstrate MILs™ as
a superior cell source to produce next generation CAR-T cells. Finally,
we are exploring proprietary gene modifications designed to counteract
immunosuppressive tumor microenvironments.”

WindMIL also announced the appointment of Qiming’s Mark McDade and Anna
French, Ph.D. to the company’s Board of Directors.

“Mark McDade brings deep experience in the pharmaceutical and
biotechnology sectors to WindMIL, having held senior management
positions in both start-up companies and established global commercial
organizations,” said Don Hayden, Chairman of the Board of WindMIL
Therapeutics. “Dr. Anna French is an experienced strategic advisor to
leading biopharma companies and brings a strong scientific background in
stem cell research to the Board. We look forward to their contributions
as WindMIL advances our clinical programs.”

Mark McDade commented, “WindMIL has something truly unique in the cell
therapy space – the ability to reactivate and expand a naturally
occurring, tumor-specific population of central memory cells. We look
forward to helping the team advance this important technology in several
transformative means to address the needs of patients battling cancer.”

About WindMIL TherapeuticsWhen it comes to cell therapy –
cell source matters. At WindMIL, we are harnessing the power of bone
marrow derived lymphocytes to develop ground-breaking immunotherapies to
treat cancer patients. The bone marrow is a natural reservoir of T cells
with unique advantages including inherent tumor-specificity, high
cytotoxic potential, and long persistence. We have perfected an
efficient and rapid process to extract, activate and expand these cells.
We call the result of this process MILs™. Our lead program is in a Phase
2 study in high-risk multiple myeloma with additional programs in solid
tumors using MILs™ advancing to the clinic. We are also advancing
programs to supercharge MILs™ through genetic-modification.

For more information, please visit: https://windmiltherapeutics.com

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