Pan Cancer T, a Rotterdam-based biotech developing next-generation T cell therapies for solid tumours, has raised €10 million to move its lead program, PCT1:CO-STIM, into a first-in-human clinical trial for women with triple-negative breast cancer, the company said on December 8, 2025. The financing combines €5 million from existing investors Van Herk Ventures, Thuja Capital, Erasmus MC O&O Holdings, and InnovationQuarter with a €5 million Innovation Credit loan from the Dutch Ministry of Economic Affairs. And it is intended to support patient treatment at leading cancer centres in the Netherlands.
The company said the trial will evaluate the safety, tolerability, and preliminary efficacy of a therapeutic dose of PCT1:CO-STIM in patients with triple-negative breast cancer. This subgroup often faces limited options once the disease progresses. Pan Cancer T highlighted the severity of advanced TNBC outcomes, citing a five-year survival rate after metastatic progression of about 12% and a median overall survival of less than six months, framing the planned study as addressing a significant unmet medical need.
PCT1:CO-STIM is being developed as an autologous T cell therapy and is designed to target ROPN1, which Pan Cancer T described as a tumour-restricted antigen expressed in more than 90% of cases of triple-negative breast cancer and melanoma. The program also incorporates a co-stimulatory technology intended to help engineered T cells persist and function in the immunosuppressive environment common to solid tumors, with the company aiming to generate durable responses in patients with few effective therapies. Pan Cancer T added that while the initial approach is autologous, the program could later evolve toward an in vivo delivery strategy.
Rachel Abbott, the company’s chief executive officer, said the new financing supports the transition from preclinical work into patient dosing, and the company expects to pursue a regulatory filing with the European Medicines Agency in 2026. Thuja Capital said the investment aligns with its strategy to back innovative life sciences companies tackling hard-to-treat cancers, pointing to continued momentum in cell and gene therapy following AstraZeneca’s acquisition of EsoBiotec, a Thuja Capital portfolio company.
Pan Cancer T was founded in 2020 as a spin-out from Erasmus MC in Rotterdam and is building a pipeline of TCR-T programs aimed at triple-negative breast cancer and additional solid tumour indications, including cancers of the skin, colorectum, stomach, oesophagus, ovary, and uterus. The company said it has raised approximately €21 million to date, including €2 million in grants and the €5 million Innovation Credit loan, and listed investors including Van Herk Ventures, Thuja Capital, Erasmus MC O&O Holdings, InnovationQuarter, and Swanbridge Capital.
KEY QUOTES:
“Our mission is to empower a patient’s own immune cells to tackle hard-to-treat cancers like TNBC”, said Rachel Abbott, Chief Executive Officer of Pan Cancer T. “This significant investment marks a pivotal moment as we transition from preclinical validation to treating patients with our first novel T-cell receptor (TCR) T cell therapy, PCT1:CO-STIM, following our planned regulatory filing with the EMA in 2026. We are deeply grateful to our investors and the Netherlands Enterprise Agency (RVO) for their confidence in our approach.”
Rachel Abbott, Chief Executive Officer, Pan Cancer T
“Thuja Capital is dedicated to investing in the most innovative life sciences companies. Pan Cancer T’s TCR-T platform addresses hard-to-treat solid tumours, such as TNBC, that are the greatest challenge in oncology. Following our recent success in the cell and gene therapy field, with AstraZeneca’s acquisition of our portfolio company EsoBiotec, we are delighted to continue backing another pioneer in the C> space,” said Michel Briejer, Managing Partner at Thuja Capital and member of Pan Cancer T’s Supervisory Board.
Michel Briejer, Managing Partner, Thuja Capital, and Member, Pan Cancer T’s Supervisory Board
