Radiant Biotherapeutics, a Toronto, Canada-based preclinical biotechnology company developing an antibody platform, raised $35M in Series A funding.
The round was led by Bill & Melinda Gates Foundation and Amplitude Ventures of Canada. Additional participants included new investors BDC Capital, the investment arm of the Business Development Bank of Canada, through its Thrive Venture Fund, and abrdn, an investment fund managed by abrdn Inc.; and existing investors FACIT, Alexandria Venture Investments and Toronto Innovation Acceleration Partners (TIAP).
The company intends to use the funds to further develop its lead clinical candidate, 4-1BB, and move it towards clinical trials.
Led by CEO Arthur J. Fratamico, Radiant Biotherapeutics is an antibody platform company that specializes in multi-valent, multi-specific therapeutics to deliver new therapies for patients. Its proprietary Multabody™ platform leverages avidity and multi-specificity simultaneously, to generate efficacious Multabodies, a new class of biologics positioned to tackle complex, heterogenous diseases such as cancer, that often have challenging targets and mechanisms. Multabody™ production and manufacturing is flexible, modular and scalable, and leverages standard antibody CMC processes.
Radiant Biotherapeutics was founded in 2020 and is built around foundational science developed at The Hospital for Sick Children (SickKids) in Toronto and the University of Toronto, based on and including work performed at the laboratories of Jean-Philippe Julien, Ph.D., senior scientist at SickKids and associate professor at University of Toronto’s Temerty Faculty of Medicine, and Bebhinn Treanor, Ph.D., a professor at the University of Toronto. The company emerged from stealth mode in 2023 following a seed investment led by Amplitude Ventures, FACIT, TIAP and Alexandria Venture Investments. Radiant maintains offices in Toronto and Philadelphia.
FinSMEs
11/09/2024