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Halda Therapeutics, a biotechnology company based in New Haven, CT, has successfully raised $126 million in a Series B extension funding round, bringing its total funding to $202 million. The company is developing a novel class of cancer therapies called RIPTAC™ (Regulated Induced Proximity TArgeting Chimeras) therapeutics. With participation from both new and existing investors, including Deep Track Capital, Frazier Life Sciences, and Canaan Partners, Halda plans to use the funds to advance two RIPTAC candidates into clinical trials. These trials will focus on patients with prostate cancer and breast cancer, initially targeting the metastatic setting where drug resistance to standard treatments is common. https://lnkd.in/gPWMY8tH

Actuate, a biotechnology company focused on cancer treatments, is gearing up for a potential summer IPO. The company, with locations in Texas and Ireland, is in the process of finalizing details for the offering. Through an official filing with the Securities and Exchange Commission, Actuate mentioned that the funds raised from the IPO would support ongoing midstage trials and a phase 1 dose-escalation study targeting pediatric refractory cancer. Stay tuned for updates on this promising development. #Biotech #CancerResearch

In business news,  ProfoundBio announced an oversubscribed $112 million Series B financing supported by a syndicate of top healthcare dedicated and mutual fund institutional investors. This financing is expected to accelerate the development of its comprehensive antibody-drug conjugate portfolio, including the planned pivotal trial of rinatabart sesutecan (Rina-S) for the treatment of ovarian cancer.  Key programs include: Rina-S, a folate receptor-alpha (FRα) targeted ADC, in Phase 2 trials for ovarian and endometrial cancers, with pivotal studies in ovarian cancer planned for later this year. PRO1160, a CD70 targeted ADC, in Phase 1 trials with initial results expected in 2024. PRO1107, a protein tyrosine kinase 7 (PTK7) targeted ADC, in Phase 1 trials with initial results anticipated in 2025. PRO1286, a bi-specific ADC, anticipated to enter the clinic in 2024. #mabs https://lnkd.in/djG5g9EM

ProfoundBio just made a splash in the biotech pool with a jaw-dropping $112 million from their latest Series B round, bringing their total funding to a cool $247 million! Yep, you read that right! So, what's the big deal? ProfoundBio isn't your average biotech firm. They're diving deep into the world of antibody-drug conjugate (ADC) therapeutics. Think of ADCs as smart bombs that specifically target cancer cells without harming the rest of the body – a game-changer in cancer treatment. This Series B round was more than just successful; it was oversubscribed. That means investors are really, really into what ProfoundBio is doing. Led by the Ally Bridge Group, with a dream team of backers including Nextech Invest, T. Rowe Price Associates, Janus Henderson Investors, RA Capital Management, and OrbiMed, it's clear ProfoundBio is onto something special. Why all the excitement? ProfoundBio's work could redefine how we treat cancer, making therapies more effective and less harmful. With this latest round of funding, they're set to turbocharge the development of their ADC portfolio. Keep your eyes peeled – ProfoundBio is on a mission to change the game in patient care. https://lnkd.in/dUXH74dx #biotech #biotechnology #fundingnews #startupfunding

Obsidian Therapeutics Announces Oversubscribed $160.5 Million Series C Financing to Drive OBX-115 Clinical Development Syndicate led by new investor, Wellington Management, with other new premier life sciences investors including Foresite Capital, Janus Henderson Investors, Novo Holdings A/S, Paradigm BioCapital, RTW Investments, T. Rowe Price and Woodline Partners LP. Proceeds to support clinical development of OBX-115 in ongoing trials, including a multicenter trial for patients with metastatic melanoma and non-small cell lung cancer. Ray Camahort, Ph.D., Partner at Novo Holdings US, appointed to the Company’s Board of Directors. Proceeds from the financing will advance Obsidian’s lead engineered tumor-infiltrating lymphocyte (TIL) program, OBX-115, in its ongoing trials for patients with melanoma and non-small cell lung cancer (NSCLC). The Company is focused on enrolling patients and reaching key clinical and regulatory milestones, as well as manufacturing scale-up ahead of pivotal trial readiness. https://lnkd.in/eeD5QMyC

#News: San Diego-based Avenzo Therapeutics on Tuesday announced that it has closed a $150 million oversubscribed #SeriesA1 #fundinground, which the #biotech will use to develop #noveloncologytherapeutics. Tuesday’s haul brings Avenzo’s total capital raised to $347 million since it was founded in August 2022, according to the company. The Series A-1 was led by New Enterprise Associates (NEA), @Deep Track Capital, Sofinnova Investments and Sands Capital. New backers include @Quan Capita, Delos Capital and @TF Capital. #Avenzo CEO Athena Countouriotis MD in a statement said that the company has “made great progress” in its aim to “advance the next generation of oncology therapies for patients,” including its lead program AVZ-021, a potentially best-in-class CDK2 selective inhibitor. According to Avenzo’s website, most FDA-approved #inhibitors target the #CDK4/6 axis, which in turn helps prevent the abnormal cell proliferation central to cancers. However, most patients develop resistance to CDK4/6 inhibitors through the hyperactivation of the CDK2 pathway. AVZ-021 works by blocking this cascade, which when used with CDK4/6 inhibitors could overcome such resistances and induce durable treatment responses. Read more from BioSpace 👇🏼 https://lnkd.in/dF5T8Uqg

During 2023, cancer therapeutics witnessed prominence in IPOs, ventures, R&D, and M&As, consistently claiming the highest ranks among therapeutic sectors and culminating record-breaking deals. Check out our research! https://hubs.ly/Q02qlTnX0

#News: Genmab on Wednesday announced that it will acquire the privately owned #biotech ProfoundBio for $1.8 billion in cash. The deal is meant to help the Danish #pharma deepen its #cancer pipeline with next-generation #antibodydrugconjugate therapies. The acquisition will give #Genmab access to #ProfoundBio’s portfolio of antibody-drug conjugates (#ADC), three of which are in clinical studies. The transaction—which has been greenlit by the boards of directors of both companies—is expected to close in the first half of this year, contingent on various regulatory and anti-trust clearances, as well as other customary closing conditions. “We believe that ProfoundBio’s ADC candidates, proprietary technology platforms and talented team will be a great addition to Genmab,” CEO Jan van de Winkel said in a statement, adding that the acquisition will allow the combined entities to “accelerate the development of innovative, differentiated antibody therapies for cancer patients.” Read more from BioSpace 👇🏽 https://lnkd.in/epKyzFsP

🎉 Exciting news from the biotech world! San Diego-based Avenzo Therapeutics has just announced a whopping $150 million oversubscribed Series A-1 funding round. 🚀 This impressive milestone brings Avenzo’s total capital raised to $347 million since its inception in August 2022. The funding will fuel the development of novel oncology therapeutics, including their lead program AVZ-021, a potentially best-in-class CDK2 selective inhibitor. This innovative approach aims to advance the next generation of oncology therapies for patients, particularly targeting resistance mechanisms in cancer treatment. Kudos to the Avenzo Therapeutics team for their remarkable progress and to the investors for their support in driving forward groundbreaking cancer research. 💡🔬 #AvenzoTherapeutics #Oncology #Biotech #SeriesAFunding #CancerResearch #CDK2Inhibitor #Innovation #SanDiegoBiotech #HealthcareInvestment #StartupSuccess #Biotechnology #LifeSciences #Therapeutics #FundingNews #Investment #CancerTherapy

Acquisition News - Genmab to Acquire ProfoundBio Genmab have announced today that a definitive acquisition agreement has been met with ProfoundBio, totalling $1.8 billion in cash. This transaction further broadens Genmab's mid/late-stage clinical pipeline, while also bolstering their ADC offering. Genmab will gain worldwide rights to three clinical assets and a multitude of preclinical assets, including Rina-S, a best-in-class, clinical-stage, FRa-targeted Topo1 ADC, currently in phase 2 for ovarian cancer. In addition, Genmab will now wholly own ProfoundBio's novel ADC technology platform. This, in conjunction with their proprietary antibody platform, could offer significant opportunity to develop new medicines within oncology. Read more below: https://lnkd.in/eV5QrA7g #acquisition #genmab #profoundbio #oncology #adc