Linnaeus Therapeutics, Inc., a Haddonfield, N.J.-based biopharmaceutical company focused on the development and commercialization of novel, small molecule oncology therapeutics, closed a $12m series B financing.
The round was led by Kairos Ventures, with participation from Penn Medicine Co-Investment Fund at the University of Pennsylvania.
The company intends to use the funds to conduct its phase 1/2 clinical trial of its lead compound, LNS8801, in patients with advanced cancer.
Led by Patrick Mooney, M.D., chief executive officer, Linnaeus is a biopharmaceutical company focused on the development and commercialization of novel, small molecule oncology therapeutics that target a novel G protein-coupled receptor, known as GPER, or GPR30.
The company was formed and launched in partnership with the UPstart incubator at the University of Pennsylvania’s Penn Center for Innovation (PCI). Its lead molecule, LNS8801, is in the final stages of preclinical development.
Linnaeus expects to begin its phase 1 clinical program in the near-term.
In addition to developing GPER agonists, the company is also currently focusing on developing small molecules that activate other G protein-coupled receptors to engage tumor-suppressive cellular signaling pathways.