Volastra Therapeutics, a NYC-based biotechnology company developing novel therapies for the prevention and treatment of metastatic cancer, extended its original $12m seed round to a total of $44m.
New investors Vida Ventures and Catalio Capital Management joined a syndicate that includes Polaris Partners, Droia Ventures, ARCH Venture Partners and Quark Venture.
The company intends to use the funds to further build-out its technology platform.
Co-founded by Lewis Cantley, Ph.D., Olivier Elemento, Ph.D. and Samuel Bakhoum, M.D., Ph.D., and led by Charles Hugh-Jones, M.D., Chief Executive Officer, Volastra Therapeutics is pioneering novel approaches to halt or prevent cancer metastasis. Its technology platform exploits unique insights into chromosomal instability (CIN) to rapidly identify and validate novel targets to block metastasis.
The company recently announced a partnership with Dewpoint Therapeutics to discover novel molecules capable of blocking immuno-suppressive signaling in CIN-high tumors, and Microsoft to develop proprietary artificial intelligence algorithms to detect and predict metastatic potential in human tissue samples.