PIC Therapeutics, a Natick, MA-based biopharmaceutical company, raised $35M in Series A funding.
The round was led by OrbiMed with participation from Lumira Ventures, Harrington Discovery Institute, Advent Life Sciences and Belinda Termeer.
The company intends to use the funds to advance its development-stage small molecule drug, an allosteric protein translation modulator targeting eIF4E, into first-in-man, first-in-mechanism clinical studies in advanced metastatic breast cancer. The proceeds will also support expansion of a pipeline of emerging oncology indications.
Led by CEO Katherine Bowdish, PIC Therapeutics is a biotechnology company providing discovery and development the mechanism of small molecule medicines focused on fundamentally changing how cancer is treated by developing therapeutics that modulate protein translation. The company targets a “master switch” of cancer signaling pathways, selectively impacting oncogene protein production by altering the Pre-Initiation Complex (PIC) that drives their mRNA translation. Its selective approach modulates cancer cell proteomes, impacting multiple dysregulated oncogenic drivers leading to a powerful new generation of cancer-treating therapeutics.
FinSMEs
20/10/2022