PMV Pharmaceuticals, Inc., a Cranbury, N.J.-based leader in the discovery and development of p53-targeted small molecule drugs for the treatment of cancer, completed a $74m Series B financing round.
The round was led by Topspin Biotech Fund and a group of investors with Euclidean Capital, with participation from existing investors InterWest Partners, OrbiMed Advisors, and Osage University Partners. In conjunction with the Series B financing, Steve Winick of Topspin will be joining PMV’s Board of Directors.
The company intends to use the proceeds to develop and advance into the clinic its pipeline of mutant p53 restoration drug candidates.
Led by David Mack, Ph.D., President and CEO, PMV Pharmaceuticals is developing first-in-class p53 regulators for the treatment of cancer. p53 is the most commonly mutated protein in human cancers, with more than half of all tumors containing mutant p53. The protein plays a pivotal role in the body’s natural defense mechanism against cancer and induces a highly-organized program of cellular death to prevent the proliferation of potentially cancerous cells.
The company is co-founded by Dr. Arnold Levine, one of the discoverers of the p53 protein and a professor emeritus at the Simons Center for Systems Biology at the Institute for Advanced Study.