Halda Therapeutics, a New Haven, CT-based biotechnology company developing a novel class of cancer therapies called RIPTACTM (Regulated Induced Proximity TArgeting Chimeras) therapeutics, raised $126M in Series B extension funding.
The round, which brought the total amount to $202M to date, saw participation from Deep Track Capital, Frazier Life Sciences, RA Capital Management, Vida Ventures, Boxer Capital and Taiho Ventures, as well as existing investors Canaan Partners, Access Biotechnology, Elm Street Ventures, and Connecticut Innovations.
In conjunction with this financing, Rebecca Luse, Principal at Deep Track Capital, Joe Cabral, Principal at Frazier Life Sciences, Nandita Shangari, PhD, Managing Director at RA Capital Management and Arjun Goyal, MD, Co-Founder and Managing Director at Vida Ventures, will join the Halda Board of Directors.
The company intends to use the funds to advance two RIPTAC candidates into clinical trials for patients with prostate cancer and breast cancer, initially in the metastatic setting where drug resistance to standard of care is prevalent.
Founded by Professor Craig Crews from Yale University, Halda Therapeutics is a biotechnology company that has developed a proprietary RIPTAC™ (Regulated Induced Proximity Targeting Chimeras) modality that works by a novel “hold and kill” mechanism for the precision treatment of cancer. The novel mechanism of action of RIPTAC therapeutics is designed to address cancer’s ability to evolve bypass mechanisms of resistance, a common limitation of today’s precision oncology medicines. Its lead programs are in development for major solid tumor types, prostate cancer and breast cancer, with additional RIPTAC therapeutic programs in its pipeline to treat unmet medical needs in cancer.
The company will initiate its Phase 1 trial in metastatic, castration-resistant prostate cancer (mCRPC) in 2025.
FinSMEs
12/08/2024