3T Biosciences said to raise $12m for cancer treatment research
Biotech start-up 3T Biosciences is said to have raised more than $12m in a seed funding round as it seeks to develop a cancer treatment that harnesses the human body's own immune system. A source said the company is led by cancer biology PhD researcher and investor Luke Lee and a group of academics from Stanford University. Investors in the seed round reportedly include entrepreneur Peter Thiel and early Facebook investor Sean Parker.

A stealth start-up called 3T Biosciences has raised more than $12 million in a massive seed round led by early Facebook investor Sean Parker and including Peter Thiel, according to a person familiar with the company's financing.

Little is known about 3T Biosciences, but this person said the company is led by cancer biology PhD student and investor, Asset Management Ventures' principal Luke Lee, as well as a group of academics from Christopher Garcia's biology lab at Stanford.

3T Biosciences is in the T-cell therapy space, the person said, meaning that it is among a growing group of new start-ups working to bolster the body's own immune system to fight cancer. That's a different approach than traditional medicines like chemotherapy, which kill off both cancerous and healthy cells.