Natick biopharma closes $35M financing to develop cancer treatments
Photo | Google Maps
Natick incubator ABI Lab is home to PIC Therapeutics, among other biotech firms.
PIC Therapeutics Inc. of Natick completed a $35-million round of financing fund developments to fight drug-resistant breast cancer.
The Series A financing was led by OrbiMed Advisors LLC of New York City, with other investors including Waltham’s Lumira Ventures and the Harrington Discovery Institute at University Hospitals in Cleveland. Existing investors Advent Life Sciences of London and investor Belinda Termeer joined the group for this round after providing seed financing to the company, according to a Wednesday press release from PIC.
PIC Therapeutics was founded on the work of Gerhard Wagner of the Harvard Medical School in Cambridge. The company’s work centers on blocking the production of harmful oncogene proteins leading to the production of cancer cells.
“This financing from a committed and distinguished investor syndicate, which includes new and existing investors, underscores the progress we’ve made to advance our lead program toward our goal of cancer therapies that broadly address cancer-driving oncogenes via a fundamental mechanism in protein translational modulation,” PIC Therapeutics CEO Katherine Bowdish said in the press release.
WBJ Web Partners
Most Recent
Most Recent
0 Comments