Bolt Biotherapeutics, Inc., a Redwood City, Calif.-based clinical-stage biotechnology company, closed a $93.5m Series C financing.
The round was led by Sofinnova Investments, with participation from new investors RA Capital Management, Surveyor Capital (a Citadel Company), Rock Springs Capital, Samsara BioCapital and Pfizer Ventures as well as existing investors Novo Holdings, Vivo Capital, Pivotal bioVenture Partners and others. In conjunction with the financing, Jason Pitts Ph.D., principal at Sofinnova Investments, will join the company’s board of directors.
The company, which has raised more than $170m since its founding in 2015, intends to use the funds for the continued clinical development of its lead ISAC, BDC-1001, which is delivered systemically as monotherapy for HER2-expressing cancers, and expand its pipeline of Boltbody™ therapeutics.
Led by Randall Schatzman, Ph.D., chief executive officer, Bolt Biotherapeutics is developing its Immune-Stimulating Antibody Conjugate (ISAC) platform technology to harness the power of the innate immune system to treat cancer. Its immunotherapies combine antibody targeting with the innate immune system via activating myeloid cells and reprogramming the tumor microenvironment.
Bolt is developing BDC-1001 as a monotherapy for patients with HER2-expressing solid tumors. The drug candidate is an ISAC comprised of trastuzumab conjugated to a Bolt proprietary TLR7/8 agonist payload.