SQZ Biotech

About SQZ Biotech

SQZ Biotechnologies, founded in 2013, was a clinical-stage biotechnology company that emerged from academic research at the Massachusetts Institute of Technology (MIT). The company's inception is credited to Dr. Armon Sharei, who developed the core technology during his Ph.D. in Chemical Engineering under the guidance of renowned professors Dr. Robert Langer and Dr. Klavs Jensen. Sharei's journey was deeply personal; after growing up in multiple countries and witnessing life's inequities, he was motivated to make a tangible impact. This resolve was strengthened by his own diagnosis and successful treatment for blood cancer in 2015, which gave him a patient's perspective on the need for better therapies.

The company was built around its proprietary Cell Squeeze® technology, a novel microfluidic system for intracellular delivery. This vector-free platform works by gently squeezing cells as they pass through a narrow constriction on a microfluidic chip, which temporarily opens pores in the cell membrane. This process, known as mechanoporation, allows a wide variety of materials—including proteins, peptides, and nucleic acids—to diffuse directly into the cell's cytosol. A key advantage of this mechanical method is its ability to deliver cargo to many cell types with minimal disruption to normal cell function, avoiding the use of potentially harmful viral vectors or electric fields. The entire manufacturing process for autologous cell therapies was designed to be completed in under 24 hours, a significant reduction compared to other cell therapy approaches.

SQZ's business model focused on developing its own pipeline of therapeutic candidates while also engaging in strategic partnerships. The company's primary clients were patients enrolled in its clinical trials for oncology and autoimmune diseases. A significant collaboration with Roche, initiated in 2015 and expanded in 2018, aimed to develop Antigen Presenting Cell (APC) therapies for oncology, representing a deal potentially worth over $1 billion. This partnership provided a major source of revenue through upfront payments and potential milestones. However, in July 2023, Roche decided not to exercise its option for a program targeting HPV16 positive tumors, leading SQZ to regain full rights. The company went public in October 2020. Despite promising early clinical results, including a confirmed complete response in a patient with an HPV16+ solid tumor, the company faced financial difficulties. After its stock was delisted from the NYSE in July 2023 due to low market capitalization, the company's shareholders approved a plan of liquidation in February 2024. In March 2024, its assets, including over 400 patents and its MIT license, were acquired by Stemcell Technologies for $11.8 million. Following the acquisition, founder Armon Sharei started a new venture, Portal Biotechnologies.