BioTheryX, Inc., a San Diego, CA-based clinical stage biotechnology company, closed a $35m Series D financing.
The round was led by MSD Partners, L.P. In conjunction with the financing, Robert Platek, a Partner and Portfolio Manager at MSD Partners L.P., will be joining BioTheryX’s Board of Directors.
The company intends to use the funds for general corporate development purposes, to accelerate the timeline of the BTX-A51 Phase 1 clinical trial through the addition of clinical sites beyond Memorial Sloan-Kettering Cancer Center, continue IND-enabling studies for therapeutic candidates utilizing both PHMs™ and PHM®-based PROTACs (proteolysis targeting chimeras), and support more rapid development of its pre-clinical pipeline.
Led by David Stirling, Ph.D., Chairman and CEO, BioTheryX is a clinical-stage biopharmaceutical company focused on restoring protein homeostasis, including protein degradation and modulation, and multi-kinase inhibition to develop treatments intended to extend and improve the quality-of-life of patients with life-threatening diseases. Its principal technology platform centers on targeted protein degradation, as well as PHM® ‘molecular glues’ that enable the design of small molecules to regulate protein equilibrium. This technology is designed to utilize the body’s own protein disposal system to selectively degrade and remove disease-causing proteins. It has potential applicability to a broad range of diseases.