Mersana Therapeutics, Inc., a Cambridge, MA-based biotechnology company focused on discovering and developing a pipeline of antibody drug conjugates (ADCs), completed a $33m Series C financing.
The round was led by new investor Wellington Management Company with participation from new investors Cormorant Asset Management, Arrowpoint Partners and Takeda Pharmaceutical Company Limited and existing investors New Enterprise Asscoiates and Rock Springs Capital.
The company intends to use the funds to further develop its pipeline programs and expand its proprietary ADC platform.
Led by Anna Protopapas, President and Chief Executive Officer, Mersana is advancing a proprietary pipeline of targeted oncology therapeutics leveraging its Fleximer® immunoconjugate technology. The company currently anticipates filing an Investigational New Drug (IND) application for lead candidate XMT-1522, a novel HER-2 targeting therapy, in mid-2016, and plans to initiate a Phase 1 proof of concept clinical trial shortly thereafter. Its second program, XMT-1536, a novel anti-sodium-dependent phosphate transport protein 2B (anti-NaPi2b) ADC, is currently advancing into IND-enabling studies.