The round was led by existing investor Pontifax, with participation from Quark Venture and GF Securities through GHS Fund, Arkin Bio Ventures, CBG and existing investor, RMGP. In connection with the financing, Dr. Zafrira Avnur from Quark Venture, Dr. Pini Orbach from Arkin Bio Ventures and Merav Kaye from CBG will join the board of directors.
Proceeds from this financing will be used to advance Pi’s lead program to clinical proof-of-concept.
Led by Dr. Ori Kalid, Chief Executive Officer, Pi is a preclinical-stage pharmaceutical company dedicated to the development of protein degradation modulators for the treatment of cancer. It is advancing a novel first-in-class inhibitor of protein degradation that generated encouraging pre-clinical activity in multiple models of liquid and solid tumors.
The company was established in 2015 based on technology in-licensed from Johns Hopkins University and has raised a total of approximately $24M to date.