Deciphera Pharmaceuticals, a Waltham, MA-based clinical-stage biopharmaceutical company focused on addressing key mechanisms of tumor drug resistance, closed a $52m Series C financing.
The round was led by Viking Global Investors LP, Redmile Group, and Sphera Global Healthcare Fund and existing investors New Leaf Venture Partners.
The company intends to use the funds to advance its pipeline of novel oncology products into later-stage clinical development.
Led by Michael D. Taylor, Ph.D., President and CEO, Deciphera Pharmaceuticals is developing:
– DCC-2618, a pan-KIT and PDGFRα kinase switch control inhibitor in clinical development for the treatment of KIT and/or PDGFRα-driven cancers, including gastrointestinal stromal tumors, glioblastoma multiforme and systemic mastocytosis. DCC-2618 is currently in Phase 1 clinical development in patients with advanced malignancies, including gastrointestinal stromal tumors, aggressive systemic mastocytosis and malignant gliomas.
– DCC-3014, which was designed using the company’s proprietary switch control inhibitor platform to be a highly-specific macrophage immunomodulatory agent. In preclinical models, DCC-3014 has demonstrated potent inhibition of the colony stimulating factor 1 receptor (CSF1R), an important target for the treatment of many cancer indications.