Aspyrian Therapeutics Inc., a San Diego, CA-based clinical stage drug development company, raised $40m in Series B financing.
Hiroshi Mikitani, the CEO of Rakuten, Inc., made the investment through his personal companies. Mikitani is also a Director of Aspyrian Therapeutics’ board.
The company intends to use the funds to accelerate clinical development efforts of the antibody conjugate RM-1929 towards approval and commercialization in recurrent head and neck cancer as well as other cancer areas.
Led by Miguel Garcia-Guzman, Ph.D., President and Chief Executive Officer, and Merrill Biel, M.D. Ph.D., Chief Medical Officer, Aspyrian Therapeutics develops a new class of precision targeted oncologic drugs for the treatment of solid tumors based on the Photoimmunotherapy platform licensed from the National Cancer Institute (NCI).