G1 Therapeutics, Inc., a Research Triangle Park, NC-based clinical-stage oncology company, completed a $47m Series C funding.
The round was led by Cormorant Asset Management with participation from new investors Aju IB Investment, Cowen Private Investments, Franklin Templeton Investments and Rock Springs Capital and existing investors Eshelman Ventures, Hatteras Venture Partners, Lumira Capital, MedImmune Ventures, Mountain Group Capital, RA Capital and Tavistock Life Sciences.
The company intends to use the funds to advance the clinical development of its lead CDK4/6 inhibitors, G1T28 and G1T38, and to expand its pipeline in multiple oncology indications.
Led by Mark Velleca, MD, PhD, Chief Executive Officer, G1 Therapeutics is a clinical-stage oncology company developing novel, small-molecule therapies that address unmet needs in people with cancer. It is advancing
– G1T28 is a potential first-in-class combination therapy that is currently in two proof-of-concept trials in patients with small-cell lung cancer, and
– G1T38 is a potential best-in-class oral drug that will begin clinical development later this month.