Iconic Therapeutics, a South San Francisco, CA-based clinical stage biopharmaceutical company dedicated to translating knowledge of Tissue Factor biology into new therapeutics for retinal disease and cancer, closed a $40m Series C financing.
Backers included new investors HBM Healthcare Investments, Cormorant Asset Management, and Osage University Partners as well as existing investors MPM Capital, H.I.G. Capital and Lundbeckfund Ventures.
The company intends to use the funds to advance development of lead molecule ICON-1 in retinal diseases as well as begin clinical trials in ocular melanoma, its first oncology indication.
Led by Chief Executive Officer William Greene, M.D., Iconic Therapeutics is a clinical stage biopharmaceutical company dedicated to translating an understanding of the role of Tissue Factor biology to new therapeutics for retinal disease and cancer. The company’s lead product candidate, ICON-1, is a novel fusion protein designed to address the basis of vision loss in AMD. Iconic has completed a Phase 1 clinical trial in wet AMD and has initiated a Phase 2a study in newly diagnosed AMD patients. The company is also investigating the ICON family of proteins in cancer and has initiated a research program in solid tumors.