Century Therapeutics raises $135 million in private placement

Century Therapeutics Inc. (NASDAQ: IPSC) announced it has secured $135 million in gross proceeds through a private placement financing round. The biotechnology company, which develops induced pluripotent stem cell-derived therapies for autoimmune diseases and cancer, expects the transaction to close on January 9, 2026.

The financing was led by new investor TCGX, with participation from RA Capital Management, Commodore Capital, Deep Track Capital, RTW Investments, Venrock Healthcare Capital Partners, and the T1D Fund. The company stated the funding extends its cash runway to the first quarter of 2029.

Century will issue approximately 117.4 million shares of common stock and accompanying warrants at $1.15 per share. The warrants allow holders to purchase 58.7 million additional shares at $2.60 per share and expire 30 days after initial Phase 1 clinical data for CNTY-813 is announced or three years after closing, whichever comes first. Full exercise of the warrants would provide an additional $153 million in proceeds.

"We estimate this financing extends our cash runway to Q1 2029 with an anticipated IND submission for CNTY-813 in 2026 and initial clinical data for CNTY-813 expected in 2027," said Chief Executive Officer Brent Pfeiffenberger.

CNTY-813 is the company's lead product candidate, a beta islet cell therapy for Type 1 diabetes. Century plans to use the proceeds to fund development of CNTY-813 and for general corporate purposes.

The securities were offered under Section 4(a)(2) of the Securities Act of 1933 and have not been registered. Leerink Partners, TD Cowen and Mizuho served as placement agents for the transaction.

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