Elucida Oncology, a Monmouth Junction, NJ-based biotechnology company pioneering the next frontier in targeted cancer therapy, closed a $44m Series A-1 financing.
The backers remained undisclosed.
The company intends to use the funds to continue to expand its development efforts, to complete IND enabling studies for its lead CDC program, the management team and laboratory capabilities, and generate additional pre-clinical efficacy data in several tumor models.
Led by Geno Germano, CEO and President, Elucida Oncology is a biotechnology company pioneering the next frontier in targeted cancer therapy with its ultra-small C’Dot drug delivery platform. The company’s C’Dot-Drug-Conjugates, or CDCs, are novel therapeutics formulated to substantially increase the concentration of highly potent drugs in difficult to treat tumors with minimal systemic exposure due to their unique Target or Clear™ properties. CDCs are designed to enable precise tumor targeting and deep tumor penetration resulting in enhanced efficacy with reduced off-target toxicity, thereby addressing the limitations of antibody-drug-conjugates and more traditional drug carriers.
Elucida Oncology previously raised $28m in a Series A round in 2018, this new round bringing the total investment in the company to $72m.