Convergent Therapeutics, a Cambridge, MA-based clinical-stage biotechnology company, raised $90M in Series A funding.
The round was led by OrbiMed and RA Capital Management with participation from Invus.
The company intends to use the funds to support the development of a pipeline of novel radioantibodies, including its lead program with CONV01-α, for the treatment of advanced prostate cancer.
Founded by Drs. Philip Kantoff and Neil Bander, Convergent Therapeutics is a clinical-stage biotechnology company focused on developing radiopharmaceutical therapies for prostate and other cancers. CONV01-α, a monoclonal antibody conjugated to actinium-225 (Ac-225), a radioactive alpha particle emitter, was specifically designed to bind to the prostate-specific membrane antigen (PSMA). A key functional feature of CONV01-α is that once bound to PSMA, it becomes internalized, delivering its radioactive payload directly into prostate cancer cells while minimizing damage to surrounding healthy tissue. CONV01-α has the potential to be the first Ac-225 radioantibody approved for use in prostate cancer treatment.
In addition to initiating the next phase of clinical development for CONV01-α, Convergent Therapeutics is pursuing additional radioantibody targets to treat cancer. The company is currently evaluating other in-licensing and pipeline acquisition opportunities.
The proprietary technology was developed by Dr. Neil Bander, Professor of Urologic Oncology at Weill Cornell Medicine, and licensed to Convergent by Cornell University.
FinSMEs
03/05/2023