Iconic Therapeutics, a South San Francisco, CA-based clinical stage biopharmaceutical company dedicated to translating knowledge of Tissue Factor biology into new therapeutics for retinal disease and cancer, closed an additional $10m Series C financing.
New backer Xeraya Capital joined existing investors MPM Capital, HBM Healthcare Investments, H.I.G. BioHealth Partners, Lundbeckfonden Ventures, Cormorant Asset Management, and Osage University Partners in the Series C capital raise.
The company, which completed the Series C round at $48.5m, intends to use the funds to advance development of its lead molecule ICON-1 in retinal diseases as well as begin clinical trials in ocular melanoma, its first oncology indication.
Led by William L. Greene, MD, Chief Executive Officer, Iconic Therapeutics is advancing ICON-1, a novel fusion protein designed to address the basis of vision loss in AMD by targeting inflammation and angiogenesis together. The company has completed a Phase 1 clinical trial in wet AMD and has completed enrollment in a Phase 2a study in newly diagnosed AMD patients. Iconic is investigating the ICON family of proteins in cancer and has initiated a research program in solid tumors.