Skyhawk Therapeutics, Inc., a Cambridge, Mass.-based drug development company, closed a new $40m equity investment round alongside its recently announced $60m strategic collaboration.
This brings total new capital into the company to over $100m. Participants in the all-common stock equity round included:
– Alexandria Venture Investments,
– GreatPoint Ventures,
– ShangPharma Innovation and
– Agent Capital, as well as major family investors including
– Tim Disney,
– the Duke of Bedford,
– the Reilly Family, and
– other private, tech-focused family investment firms.
The proceeds will be used for development of Skyhawk’s innovative STAR* technology platform to discover and develop small molecules that correct mutations in RNA, treating some of the world’s most intractable diseases in indications ranging from neurology and oncology, to immunology.
The company expects its first oncology drug to be in the clinic by the end of 2019.
Led by Bill Haney, co-founder and CEO, Skyhawk is committed to discovering, developing and commercializing therapies that use its novel STAR* (Small molecule Therapies for Alternative splicing in RNA) platform to build small molecule drugs.