Orrick Advises Third Rock Ventures on Investment in CARGO Therapeutics

1 minute read | March.02.2023

We advised Third Rock Ventures on its investment in the $200 million Series A financing of CARGO Therapeutics, a California- based biotechnology company advancing a next generation of CAR T-cell therapies for cancer.

The round was co-led by Third Rock, RTW and Perceptive Xontogeny Venture Fund, and included new investors Nextech, Janus Henderson Investors, Ally Bridge Group, Wellington Management, T. Rowe Price, Cormorant Asset Management and Piper Heartland, with participation from existing seed investors. The proceeds from the financing will be used to advance CARGO’s autologous CD22 CAR T-cell therapy candidate, CRG-022, through a pivotal multicenter Phase 2 trial in patients with LBCL whose disease has relapsed or is refractory to CD19 CAR T-cell therapy.

The Orrick team advising Third Rock was led by Gregg Griner and included Maria Bergenhem and Serena Tibrewala with invaluable help from Richard Smith, George Pothoulakis and the Global Operations & Innovation Center.