San Francisco-based Shennon Biotechnologies has raised USD 12 million in a new financing round and simultaneously disclosed three oncology programs built on a proprietary T-cell engager (TCE) platform, bringing total capital raised since its 2021 founding to USD 25 million.
The round drew participation from Future Ventures, NextGen Venture Partners, Samos Investments, Atypical Ventures, and Saras Capital, alongside continued backing from existing investors DCVC, Foundation Capital, and AV8 Ventures. No lead investor was designated. The company said proceeds will support continued platform development and advancement of its pipeline toward the clinic. ShennonBio previously raised a USD 13 million seed round in March 2023, led by DCVC, with participation from Foundation Capital and AV8 Ventures.
Alongside the financing, the company appointed Cyril Konto as chief executive officer. Konto most recently served as president and CEO of Ichnos Glenmark Innovation, where he completed three external partnerships including an agreement with AbbVie for a Phase I trispecific T-cell engager valued at USD 700 million upfront and up to USD 1.9 billion in total potential value plus royalties. He previously held senior roles at Allogene Therapeutics, Pfizer, and Bristol Myers Squibb. Founder Li Sun, who holds a PhD in applied physics from David A. Weitz's lab at Harvard University, transitions to president and chief technology officer.