Bantam Pharmaceutical, a Research Triangle Park, N.C.-based drug discovery and development company targeting selective modulation of mitochondrial dynamics in cancer, closed a $25m seed funding.
The round was co-led by current investors including Lionel Goldfrank, who also is a board member.
The company intends to use the funds to finalize its ongoing IND-enabling activities for its lead program, BTM-3566, and consummate preparations for first in human clinical trials.
Led by Michael Stocum, President and Chief Executive Officer, Bantam Pharmaceutical is a biopharmaceutical company focused on the discovery and development of novel small molecule therapeutics for difficult-to-treat hematological and solid tumors. The company’s current clinical development strategy is focused on B-cell hematological malignancies with expansion into additional patient cohorts based on responses in biomarker-selected patient populations.
BTM-3566 is a novel selective modulator of mitochondrial dynamics, targeting a pathway involved in mitochondrial homeostasis that specifically drives cancer cell apoptosis in a number of tumor types with high unmet need. The company has leveraged a protein translational phenotypic screen to discover its clinical candidate and related compounds.
Bantam plans to submit its Investigational New Drug application in February 2022 and start Phase 1 clinical studies in patients with B-cell hematological malignancies in the second quarter of 2022. In addition, the company has established its operations in the Alexandria cluster based in Research Triangle Park, an area rich in clinical development resources and capabilities.
FinSMEs
16/09/2021