FundraiseOct 13, 2026, 22:12 UTC

Alaunos Therapeutics lands $350M private placement led by Fairmount

What's the deal? Alaunos Therapeutics has entered a securities purchase agreement for gross proceeds of roughly $350 million through a private placement led by Fairmount. The round saw participation from Venrock Healthcare Capital Partners, T. Rowe Price Investment Management, Wellington Management, Janus Henderson Investors, Access Biotechnology, BB Biotech, Perceptive Advisors, Sirenia Capital Management, and ADAR1 Capital Management.

The details: The deal combines 687,789 shares of common stock at $1.4357 each with 243,063 shares of Series C non-voting convertible preferred stock at $1,435.70 each. The preferred stock accounts for nearly $349 million of the total. Closing is expected on October 14, 2026, subject to customary conditions.

Why now? The financing is exempt from registration under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D, meaning the investors are buying for investment rather than resale.

The signal: At roughly $350 million, the round ranks in the 98th percentile among all-time private placement VC rounds in the US health sector, based on a sample of 341 deals. The syndicate — stacked with specialist healthcare and crossover funds — points to deep investor conviction in the company's pipeline.