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Kronos Bio Doubles Its Cash With $155m Financing

Funding Will Back Clinical Trials For Two Lead Assets

 
• By Mandy Jackson

The cancer drug developer led by former Gilead R&D head Norbert Bischofberger will start a registrational trial for its recently acquired SYK inhibitor and the first trial for its CDK9 inhibitor.

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Kronos more than doubled the $123m it raised previously • Source: Shutterstock

Former Gilead Sciences, Inc. research and development leader Norbert Bischofberger joined Kronos Bio, Inc. in 2018 as CEO and an investor to develop novel cancer drugs, but has brought additional expertise and drug candidates from the big biopharmaceutical company over to the start-up since then. Now, with $155m in new private financing, Kronos will begin its first clinical trials, including a registrational Phase II/III trial for a spleen tyrosine kinase (SYK) inhibitor the company acquired from Gilead in July.

San Mateo, CA-based Kronos has raised $278m to date, including the new financing announced on 24 August, a $105m series...

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