Harpoon Therapeutics, a biotechnology company developing novel T-cell recruiting biologic therapies for the treatment of cancer, completed a $45M Series B financing.
Backers included new investors Arix Bioscience, New Leaf Venture Partners and Taiho Ventures and existing investor MPM Capital.
The round was led by Arix and New Leaf. In conjunction with the funding, Mark Chin, Investment Manager at Arix, and Ron Hunt, Managing Director at New Leaf, will join the Harpoon Therapeutics board of directors. In addition, Sakae Asanuma, President of Taiho Ventures, will join the board of directors in an observer capacity.
The company intends to use the funds to advance its novel, proprietary, tri-specific T-cell activating construct (TriTAC™) immuno-oncology platform, including moving two lead programs into clinical trials and expanding the product pipeline through discovery and partnering initiatives. In addition, Harpoon is increasing its commitment to developing additional therapeutic platforms including those that become activated by proteases present in the tumor microenvironment.
Founded by Patrick Baeuerle, PhD, and MPM Capital and led by Jerry McMahon, PhD, President and CEO, and Luke Evnin, PhD, Co-Founder and Chairman (and Founder and Managing Director at MPM Capital), Harpoon Therapeutics is advancing HPN424, a prostate-specific membrane antigen (PSMA)-targeting TriTAC™. HPN424 is in development for the treatment of metastatic prostate cancer and is expected to enter Phase 1 clinical trials in 2018.
The company anticipates identifying and moving into development additional clinical candidates within the next year.