effector Therapeutics, a San Diego, CA-based biopharmaceutical company developing translation regulators for the treatment of cancer, raised $40m in Series B funding.
The round was led by Altitude Life Science Ventures with participation from AbbVie Biotech Ventures and BioMed Ventures and existing investors Abingworth, Novartis Venture Fund, SR One, The Column Group, US Venture Partners, Astellas Ventures, Osage University Partners and Mission Bay Capital. In conjunction with the financing, Dave Maki, managing partner of Altitude Life Science Ventures, joined effector’s board of directors.
Led by Steve Worland, Ph.D., president and CEO, effector is advancing the discovery and development of translation regulators as a new class of small molecule therapeutics for cancer.
The company, which has raised $95m to date, intends to use the funds to support an open-label Phase 1/2 trial that will evaluate daily oral administration of eFT508, a selective, and orally bioavailable MNK1 and MNK2 inhibitor, in patients with advanced solid tumors as well as to fund multiple expansion arms for eFT508 in solid tumors and lymphoma, as well as advancing a second program into the clinic.