Israeli Biomed Startup Applied Immune Technologies Acquired

Jan. 28, 2016 | Israeli biopharmaceutical company Applied Immune Technologies (AIT) has been acquired by Menlo Park-based Adicet Bio for an undisclosed amount. Founded in 2006 by Prof. Yoram Reiter, Head of the Laboratory of Molecular Immunology at the Technion, Israel Institute of Technology and CEO Mira Peled-Kamar, AIT has developed therapeutic molecules for cancer, viral, and autoimmune diseases. The deal was announced last night along with Adicet’s $51 million Series A round, led by OrbiMed with participation from Novartis Venture Fund and Pontifax. “These significant financial resources will allow Adicet to progress its universal immune cell therapy (“uICT”) platform technology and related products and advance AIT’s programs and product pipeline,” said Aya Jakobovits, Ph.D., Founder, President and Chief Executive Officer of Adicet.