Pyramid Biosciences, Inc., a Waltham, Mass.-based biotechnology company developing new precision therapies focused on the modulation of cell surface receptors, closed $28m USD in funding.
The round was supported by Adage Capital Management, Averill Master Fund, Ltd., J.W. Childs Associates L.P. as well as several other investors.
The company intends to use the funds to accelerate the growth of its programs focused on novel tropomyosin receptor kinase (TRK) modulators in oncology and dermatology disorders.
Led by Jordan Leef and Kollol Pal, PhD., Pyramid Biosciences is dedicated to discovering and developing targeted therapeutics for a wide range of disorders that are regulated by the tropomyosin receptor kinase (TRK) family.
The company is advancing:
- PBI-200, an orally-active TRK inhibitor and a highly brain-penetrant agent which overcomes the acquired clinical resistance mutations that are observed with current TRK inhibitor therapies. Pyramid Biosciences is developing PBI-200 to treat a broad range of genomically-defined solid tumor cancers, including primary and metastatic brain cancers.
- PBI-100 is a selective TRK modulator which contains anti-itch, anti-inflammatory and antiproliferative effects. The company is developing PBI-100 for a range of dermatological and inflammatory diseases, including psoriasis and atopic dermatitis.