Mersana Therapeutics, Inc., a Cambridgre, MA-based drug developer, raised $35m in Series B-1 financing.
The round was led by existing investor New Enterprise Associates with participation from new investors Rock Springs Capital Management and Elliott Sigal, former head of R&D at Bristol-Myers Squibb (BMS), and current backers Pfizer Venture Investments and Fidelity Biosciences.
The company intends to use the funds to advance its pipeline of products based on its novel Fleximer® antibody-drug conjugate (ADC) platform with its first investigational new drug (IND) filing anticipated later this year.
Led by newly named President and Chief Executive Officer Anna Protopapas, Mersana is developing, with select pharmaceutical partners, a portfolio of Fleximer® antibody-drug conjugates (ADCs). The company is also advancing its own pipeline of Fleximer-ADCs to address unmet needs and improve patient outcomes in multiple oncology indications.
In conjunction with the funding, Ms. Protopapas and Elaine V. Jones, Ph.D., Executive Director of Pfizer Venture Investments, joined Mersana’s Board of Directors.