Century Therapeutics Secures Oversubscribed $135 Million Private Placement Financing to Support Lead Program, CNTY-813, a Potentially Curative Therapy for Type 1 Diabetes

Core Viewpoint - Century Therapeutics has announced a private placement to raise approximately $135 million to support the development of its lead product candidate, CNTY-813, aimed at treating Type 1 diabetes [1][2][3]. Financing Details - The financing is led by new investor TCGX, with participation from various investors including RA Capital Management and Venrock Healthcare Capital Partners [2]. - The private placement is expected to close on January 9, 2026, pending customary closing conditions [2]. - Century will issue approximately 117,391,299 shares of common stock at a price of $1.15 per share, along with warrants to purchase an additional 58,695,648 shares [3][4]. Use of Proceeds - The net proceeds from the private placement will be utilized to fund the development of CNTY-813, as well as for working capital and other general corporate purposes [5]. Product Development Timeline - The financing is projected to extend the company's cash runway to Q1 2029, with an anticipated IND submission for CNTY-813 in 2026 and initial clinical data expected in 2027 [3]. Securities Offering - The securities are offered in a private placement under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under the Securities Act [6]. - Century has agreed to file a registration statement with the SEC to register the resale of the shares issued in the private placement [6]. Company Overview - Century Therapeutics is focused on developing induced pluripotent stem cell (iPSC)-derived cell therapies for autoimmune diseases and cancer [9][10]. - The company leverages its novel immune evasion engineering technology, Allo-Evasion™, to create off-the-shelf cell therapies [10].