The category of most cancers therapies referred to as antibody drug conjugates, or ADCs, continues to be an space of sturdy investor curiosity and Torl BioTherapeutics is the most recent biotech to capitalize on it. This week, Torl unveiled $158 million in financing, the identical sum it raised when launched final 12 months.
Los Angeles-based Torl calls the brand new capital a Collection B-2 financing. The proceeds will assist continued medical growth of its lead program, TORL-1-23. This ADC targets tumors that specific a protein referred to as Claudin 6 (CLDN 6). Whereas this protein is overexpressed by many forms of most cancers cells, it has restricted expression in wholesome tissue, which makes it a promising drug goal.
Torl mentioned it plans to make use of the brand new capital to finish Section 1 testing of TORL-1-23. The corporate then plans to proceed to a pivotal Section 2 medical trial within the second half of this 12 months, evaluating the CLDN 6-targeting remedy in platinum-resistant ovarian most cancers. The proceeds may also fund early stage growth of different applications addressing different most cancers targets. Torl’s newest financing was led by Deep Monitor Capital, which had participated within the agency’s 2023 Collection B spherical. New buyers embody RA Capital Administration, Perceptive Advisors, and Avidity Companions.
Right here’s a recap of different latest biopharma business financings:
—PureTech Well being unveiled Seaport Therapeutics, a clinical-stage startup creating neuropsychiatric medication delivered by way of the physique’s lymphatic system. Seaport is backed by a $100 million Collection A financing.
—EnteroBiotix, a Glasgow, Scotland-based microbiome therapies developer, raised £27 million (about $34 million). The corporate will use the capital to advance lead drug candidate EBX-102-02 by way of a Section 2 medical trial in irritable bowel syndrome. The funding may also assist growth of different applications for liver cirrhosis and hepatic encephalopathy.
—Wellington Administration led the $160.5 million Collection C financing of Obsidian Therapeutics. The Cambridge, Massachusetts-based developer of cell and gene therapies will assist OBX-115, a tumor infiltrating lymphocyte (TIL) in medical growth for melanoma and non-small cell lung most cancers. Obsidian has partnerships with Vertex Prescription drugs and Bristol Myers Squibb.
—Alterome Therapeutics, an organization that applies machine studying to drug discovery, closed $132 million in financing. The San Diego-based biotech will use the brand new capital to advance a number of small molecules into the clinic, together with a extremely particular AKT1 E17K inhibitor and a KRAS selective inhibitor. Goldman Sachs Advisors led the Collection B spherical.
—Neurosterix launched with $63 million and a pipeline of preclinical medication for neurological issues. The small molecule medication and the know-how platform that produced them come from Addex Therapeutics. The money comes from Perceptive Xontogeny Enterprise Funds. Addex receives 5 million Swiss francs and a 20% fairness stake in Neurosterix.
—Diagonal Therapeutics emerged from stealth with $128 million and a know-how platform that applies synthetic intelligence to the invention and growth of agonist antibody medication. The Cambridge, Massachusetts-based startup’s lead program is in preclinical growth for hereditary hemorrhagic telangiectasia, a uncommon bleeding dysfunction with no FDA-approved therapies.
—Avenzo Therapeutics closed a $150 million financing to assist medical growth of AVZO-021, which is Section 1 growth for HR constructive, HER2 detrimental breast most cancers and different stable tumors. The San Diego-based biotech claims its drug, a CDK2 inhibitor, may very well be finest in its class. New Enterprise Associates, Deep Monitor Capital, Sofinnova Investments, and Sand Capital led what Avenzo calls a Collection A-1 financing.
—Mirador Therapeutics launched with $400 million in seed and Collection A financing to assist the event of novel irritation and immunology medication. The illness targets of Mirador stay undisclosed, however the biotech is led by the identical administration group that steered inflammatory issues biotech Prometheus Biosciences to a $10.8 billion acquisition by Merck final 12 months.
—Neurosciences firm Engrail Therapeutics raised $157 million to assist a drug pipeline that spans anxiousness, despair, post-traumatic stress dysfunction, and uncommon neurodegenerative illnesses. Essentially the most superior program is ENX-102, which is in Section 2 testing for generalized anxiousness dysfunction. Engrail’s Collection B spherical was co-led by F-Prime Capital, Forbion, and Norwest Enterprise Companions.
—Johns Hopkins College spinout Clasp Therapeutics launched with $150 million to develop T cell engagers for most cancers that would provide security and efficacy benefits over medication in the identical drug class. Clasp’s Collection A financing was led by Catalio Capital Administration, Third Rock Ventures, and Novo Holdings.
—Cell remedy developer Capstan Therapeutics closed $175 million in financing. The startup employs messenger RNA to ship directions that reprogram a affected person’s T cells to go after a goal. Lead program CPTX2309 is meant to deplete B cells that drive autoimmune illness. RA Capital Administration led the Collection B financing, San Diego-based Capstan mentioned will assist the lead cell remedy by way of medical proof of idea. Capstan, a College of Pennsylvania spinout, launched in 2022.
—As most cancers drug developer Tubulis prepares to enter the clinic this 12 months, the Munich, Germany-based biotech raised €128 million (about $139 million) in Collection B2 financing. Along with supporting its pipeline of ADCs, the brand new capital will go towards a U.S. subsidiary at a yet-to-be-determined location.
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