InduPro, a Seattle, WA- and Cambridge, MA-based biotechnology company developing novel therapeutics for the treatment of cancer and autoimmune diseases, raised $85M in Series A funding.
The round was led by The Column Group and Vida Ventures with participation from investors, including MRL Ventures Fund (the therapeutics-focused venture fund of Merck & Co, Inc.), Emerson Collective and Euclidean Capital.
The company intends to use the funds to support the advancement of the first expected clinical product candidate targeting cancer tissue based on the proximity of co-targeted pairs, from preclinical development to an expected IND filing in Q4 2025 for a Phase 1 clinical trial. It will also fuel a pipeline of novel bispecific antibodies and antibody drug conjugates (ADCs) that utilizes protein proximity for identification of novel tumor selective target pairings.
Led by CEO Prakash Raman (previously served as President and CEO of Ribon Therapeutics), and Scott Lesley, Ph.D., President & Chief Scientific Officer, InduPro is a biotechnology company that develops therapeutics in cancer and autoimmune diseases. The company therapeutically targets cell surface proteins in a variety of disease contexts by leveraging inherent or induced protein proximity. Through precise mapping of protein neighborhoods using its proprietary, high resolution proximity labeling technology, the company is discovering novel co-target pairs that are highly selective for specific disease biology. Additionally, since protein proximity influences signals in cells that are critical for cellular health, proximity can be induced to modify cellular signaling and interactions in disease.
FinSMEs
14/06/2024