The category of most cancers therapies referred to as antibody drug conjugates, or ADCs, continues to be an space of robust investor curiosity and Torl BioTherapeutics is the newest biotech to capitalize on it. This week, Torl unveiled $158 million in financing, the identical sum it raised when launched final yr.
Los Angeles-based Torl calls the brand new capital a Collection B-2 financing. The proceeds will help continued scientific improvement 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 varieties of most cancers cells, it has restricted expression in wholesome tissue, which makes it a promising drug goal.
Torl stated 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 scientific trial within the second half of this yr, evaluating the CLDN 6-targeting remedy in platinum-resistant ovarian most cancers. The proceeds may also fund early stage improvement of different applications addressing different most cancers targets. Torl’s newest financing was led by Deep Observe 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 scientific trial in irritable bowel syndrome. The funding may also help improvement 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 help OBX-115, a tumor infiltrating lymphocyte (TIL) in scientific improvement for melanoma and non-small cell lung most cancers. Obsidian has partnerships with Vertex Prescribed 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 improvement of agonist antibody medication. The Cambridge, Massachusetts-based startup’s lead program is in preclinical improvement for hereditary hemorrhagic telangiectasia, a uncommon bleeding dysfunction with no FDA-approved therapies.
—Avenzo Therapeutics closed a $150 million financing to help scientific improvement of AVZO-021, which is Section 1 improvement for HR optimistic, HER2 detrimental breast most cancers and different strong tumors. The San Diego-based biotech claims its drug, a CDK2 inhibitor, may very well be greatest in its class. New Enterprise Associates, Deep Observe 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 help the event of novel irritation and immunology medication. The illness targets of Mirador stay undisclosed, however the biotech is led by the identical administration crew that steered inflammatory issues biotech Prometheus Biosciences to a $10.8 billion acquisition by Merck final yr.
—Neurosciences firm Engrail Therapeutics raised $157 million to help a drug pipeline that spans nervousness, 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 nervousness 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 supply 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 stated will help the lead cell remedy by way of scientific proof of idea. Capstan, a College of Pennsylvania spinout, launched in 2022.
—As most cancers drug developer Tubulis prepares to enter the clinic this yr, 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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