Pyxis Oncology unveiled a $152m series B venture capital round on 30 March that will fund advancement of three preclinical antibody-drug conjugates (ADCs) recently acquired from LegoChem Biosciences, Inc. and Pfizer Inc. toward Phase I in 2022. The new funding also will fund its own internal immuno-oncology discovery efforts.
Pyxis’s $152m Series B Will Push Trio Of ADCs Toward Clinic
Pyxis says its three preclinical ADCs, acquired from Pfizer and LegoChem, offer immunomodulatory effects as well as direct killing of tumor cells. It hopes all three will reach Phase I in 2022.
More from Financing
• By
Public Company Edition: Stock valuations are falling due to political, economic and regulatory uncertainty, resulting in fewer large public offerings, more alternative financings and cost cuts. Carisma, Tenaya, BioAtla, Arbutus, Nkarta, Alector and Adaptimmune announced layoffs.
• By
CEO Kris Elverum told Scrip about the start-up’s platform for editing RNA to correct genetic variants that cause harm and to reproduce healthy variants as a means of treating disease.
• By
The four-year-old firm said it plans to advance programs toward the clinic from the funding round, which comes just over a year after signing two major pharma partnerships.
• By
Private Company Edition: The latest group of drug developers to announce venture capital financings is remarkable for its geographic diversity, from Character Biosciences’ $93m series B round in the US to Augustine’s $85m series B in Belgium to a $29.2m series C for Aculys in Japan.
More from Business
• By
The German firm’s chairman, Hubertus von Baumbach, is adopting a ‘wait-and-see’ approach to the threat of pharma tariffs.
• By
Trump announced a 26% reciprocal tariff on India but a country-agnostic exemption of pharmaceuticals implies that the interests of Indian firms and the US consumer are protected for now. What is Indian pharma’s business exposure and what is domestic industry saying?
• By
Industry lobbied for pharmaceuticals to be exempt from Trump’s sweeping US tariffs and the effort appears to have paid off. J&J, Lilly and Merck & Co. even got shout outs.