Loxo Oncology Completes $33M Series A Financing Round

Loxo Oncology, Inc., a NY-based biopharmaceutical company focused on targeted cancer therapies for genetically-defined populations, completed a $33m Series A financing round.

Backers included founding investor Aisling Capital and new investors OrbiMed Advisors LLC and an undisclosed one.

According to a written note, the company intends to use the funds to advance its pipeline on multiple fronts.

Founded in May 2013 by CEO Josh Bilenker, M.D., a partner at Aisling Capital, Loxo Oncology also announced the formation of its Board of Directors, which includes:
– Steven Elms and Dov Goldstein, M.D., managing partner and partner at Aisling Capital, respectively;
– David Bonita, M.D., private equity partner at OrbiMed Advisors; and
– Keith Flaherty, M.D., director of the Henri and Belinda Termeer Center for Targeted Therapies at Massachusetts General Hospital.

Additionally, the company appointed four members to its Scientific Advisory Board in addition to chairman Dr. Keith Flaherty. The new members include:
– Jeffrey A. Engelman, M.D., Ph.D., director, Center for Thoracic Cancers, Massachusetts General Hospital Cancer Center; associate professor of Medicine, Harvard Medical School;
– Ross L. Levine, M.D., associate member, Human Oncology and Pathogenesis Program, and associate attending physician, Leukemia Service, Department of Medicine, Memorial Sloan-Kettering Cancer Center; associate professor of Medicine, Weill Cornell Medical College;
– Ben Ho Park, M.D., Ph.D., associate professor of Oncology, Breast Cancer Research Program, and Joint Appointment, Whiting School of Engineering, Department of Chemical and Biomolecular Engineering, Johns Hopkins University; attending physician, Johns Hopkins Hospital, The Sidney Kimmel Comprehensive Cancer Center at Johns Hopkins; and
– David Solit, M.D., Ph.D., director, Developmental Therapeutics, and associate professor of Medicine, Cell and Developmental Biology, Memorial Sloan-Kettering Cancer Center.



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