Scorpion Therapeutics, a Boston, MA-based clinical-stage oncology company, raised $150M in Series C funding.
The round was led by Frazier Life Sciences and Lightspeed Venture Partners, and included additional new support from Willet Advisors along with existing investors Omega Funds, Vida Ventures, Atlas Venture, Abingworth, Fidelity Management & Research Company, Boxer Capital, EcoR1 Capital, LLC, Surveyor Capital (a Citadel company), Invus, Wellington Management, Nextech Invest Ltd. (on behalf of one or more funds managed by it), OrbiMed, Logos Capital, Woodline Partners LP, and Casdin Capital, LLC. In connection with the financing, Shelley Chu, M.D., Ph.D., Partner at Lightspeed Venture Partners, will transition to an investor board member and Albert Cha, M.D., Ph.D., Managing Partner at Frazier Life Sciences, will join Scorpion’s board as an observer.
The company intends to use the funds to advance its pipeline of differentiated small molecule oncology programs, in particular, to expand clinical development of its allosteric, differentiated, mutant-selective PI3Kα inhibitor, STX-478. Further, it will continue to advance its clinical-stage EGFR inhibitor franchise, including STX-721 and STX-241, and its discovery pipeline of next-generation precision oncology therapies.
Led by Adam Friedman, M.D., Ph.D., CEO, Scorpion is a clinical-stage oncology company which specializes in precision medicine to deliver optimized and transformational therapies for larger populations of patients with cancer. Scorpion has built a proprietary and fully-integrated platform of the most advanced technologies across cancer biology, medicinal chemistry, and data sciences, with the goal of rapidly creating exquisitely selective small molecule compounds against an unprecedented spectrum of targets. It aims to leverage its platform to advance a broad pipeline of wholly-owned, optimized compounds across three target categories: molecules targeting validated oncogene targets, molecules for previously undruggable targets, and molecules for novel cancer targets.
FinSMEs
16/07/2024