858 Therapeutics a start-up biotechnology and drug discovery company based in San Diego has closed Series B worth $50 million. This round was sponsored by Avidity Partners and other investors, including Insight Partners, Mirae Asset Capital, Alexandria Venture Investments, and other prior investors with Versant Ventures, NEA and Logos Capital. The investment also brings Monal Mehta, Ph.D., the Managing Director at Avidity Partners, to the Board of Directors at the company.
Focus of Funds
The newly raised funds will continue the clinical specifically for the drug candidate, ETX-19477 which is a PARG inhibitor, and for the other drugs in development for oncology and immunology.
About 858 Therapeutics
858 Therapeutics is a Santa Barbara biopharmaceutical company that focuses on designing small molecule therapies tackling issues of cancer biology comprising DNA damage repair, innate immunity, and RNA epigenetics CEO of the company is Jeffrey Stafford. The organization’s team is strong in the domain of drug discovery and aims to target various gaps present in and oncology and immunology space.
Lead Asset: ETX-19477
858 Therapeutics’ most advanced product in development is ETX-19477 which functions as a selective inhibitor of the DNA repair protein PARG. Currently under investigation in patients with advanced solid tumors, ETX-19477 is predicted to yield important informative regarding the drug’s advancement and specific patient types that stand to benefit from a PARG blockade.
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