TORL BioTherapeutics, a Los Angeles, CA-based biopharmaceutical company focused on developing new biologics for cancer treatment, closed a $158m Series B financing.
The round was led by Goldman Sachs Asset Management, with participation from UC, Office of the Chief Investment Officer, Bristol Myers Squibb, Deep Track Capital, Vertex Ventures HC, Moore Strategic Ventures, Cowen Healthcare Investments, Perceptive Xontogeny Venture Fund, and existing investors including Alexandria Venture Investments and OCV Partners. Amit Sinha, Head of Life Sciences Investing within Goldman Sachs Asset Management, and Lynn Seely, M.D., President and CEO of Lyell Immunopharma, will join TORL Board of Managers as part of Series B financing.
The company intends to use the funds to to advance TORL-1-23, a first-in-class, clinical-stage ADC targeting Claudin 6, TORL-2-307, a clinical-stage ADC targeting Claudin 18.2 and other novel clinical and preclinical stage programs.
Co-founded by acclaimed oncologist Dennis Slamon, M.D., Ph.D., of University of California at Los Angeles (UCLA) and entrepreneur and CEO David Licata, as well as leadership from a distinguished set of industry veterans, including Executive Chairman Mark Alles, former Chairman and CEO of Celgene Corporation, TORL BioTherapeutics is a clinical-stage biopharmaceutical company with the objective of developing novel, antibody-based therapeutics to transform the lives of cancer patients. Its lead candidate, TORL-1-23, is a CLDN6-directed ADC developed for patients across multiple cancer types. The company also has two other clinical-stage programs; an ADC and mAb targeting CLDN 18.2. Additionally, TORL is developing a broad pipeline of novel preclinical ADCs and mAb in oncologic indications with a high unmet medical need. TORL is headquartered in Los Angeles.
FinSMEs
13/04/2023