Fortis Therapeutics, Inc., a San Diego, CA-based new immuno-oncology biotech company, closed an $18m Series A financing.
The round was led by Avalon Ventures with participation from Bregua Corporation, Lilly Asia Ventures, Osage University Partners, and Vivo Capital.
Founded based on technology exclusively licensed from UCSF and developed in the laboratory of Bin Liu, Ph.D., Fortis Therapeutics focuses on developing new antibody drug conjugate (ADC) therapies that target a receptor that is over-expressed in late-stage prostate cancer including both the adenocarcinoma and neuroendocrine types. Furthermore, the genes encoding the target receptor are part of the chromosome amplification seen in a large number of multiple myeloma patients with poor prognosis.
The company is led by Jay Lichter, Ph.D., president and CEO of Fortis Therapeutics and COI Pharmaceuticals, managing director of Avalon Ventures, and Marc Nasoff, Ph.D., chief scientific officer of Fortis Therapeutics and COI Pharmaceuticals.