Quanta Therapeutics, a San Francisco, CA-based biopharmaceutical company, raised over $50M in Series D funding.
The round, which brought the total amount to $142M, was led by Avidity Partners and was supported by existing investors including Sofinnova Investments, Vida Ventures, Surveyor Capital (a Citadel company), Longitude Capital, BVF Partners and AbbVie Ventures. Other new participants were GC&H Investments (the partner fund of Cooley LLP) and WS Investment Company (Wilson Sonsini’s venture arm).
The company intends to use the funds to (support advancement of two KRAS inhibitor programs into the clinic in 2024.) advance its pipeline, including:
- Two chemically distinct allosteric KRAS inhibitors, QTX3034, a multi-KRAS inhibitor, and QTX3046, a G12D-selective KRAS inhibitor. These programs are currently in Investigational New Drug Application (IND)-enabling studies to support anticipated clinical trial initiation in KRAS-driven solid tumor indications in 2024.
- A novel RAF1 discovery program employing direct allosteric modulation of the active RAS-RAF1 membrane signaling complex to selectively target a broad spectrum of RAS-driven tumors with the potential for kinase-independent synthetic lethality.
- Additional discovery programs with undisclosed targets, including combination partners for Quanta’s lead programs.
Led by Perry Nisen, MD, PhD, Chief Executive Officer, Quanta Therapeutics is a biopharmaceutical company focused on the most prevalent and elusive target in oncology—RAS. Its vision is to develop novel small molecule cancer medicines by selectively targeting protein-protein interactions that are key to oncogenic RAS activity. Its team has extensive drug development expertise and substantial research experience in the RAS space. By applying innovative medicinal chemistry and its protein conformation detection technology, Quanta aims to advance differentiated RAS programs that address the resistance paradigms of targeted therapy in oncology.
The company also has a site in Radnor, PA.
FinSMEs
23/05/2023