Cybrexa Therapeutics, a New Haven, CO-based oncology-focused biotechnology company, completed its $25m Series B financing.
Backers included HighCape Capital and new investor Elm Street Ventures.
The company intends to use the funds for planned advancement of its lead candidate CBX-12 (alphalex™-exatecan) into the clinic. The first patient dosing in the Phase 1 study is expected in the first half of 2021.
Led by Per Hellsund, President & CEO, Cybrexa Therapeutics is an oncology-focused biotechnology company developing a new class of therapeutics through its alphalex™ Peptide Drug Conjugate (PDC) tumor targeting platform. CBX-12 is a novel treatment for solid tumors that includes a highly potent topoisomerase I inhibitor payload that is in the same class as the payloads used by antibody-drug conjugates (ADCs) ENHERTU® and TRODELVY™. In contrast to these ADCs, CBX-12 is able to target cancer cells independent of antigen overexpression, which should greatly expand the addressable patient populations. The positive results from the GLP toxicology study of CBX-12 will serve as a guide for the dosing regimen in the planned Phase I trial.