TORL BioTherapeutics, a Los Angeles, CA-based clinical-stage biotechnology company, raised $158M in Series B-2 funding.
The round, which brought the total amount to $350M, was led by Deep Track Capital, with participation from RA Capital Management, Perceptive Advisors, and Avidity Partners as well as all existing biotechnology investors including Goldman Sachs Alternatives, UC Investments, Bristol Myers Squibb, Vertex Ventures HC, Moore Strategic Ventures, Blue Owl Healthcare Opportunities, and Perceptive Xontogeny Venture Fund.
The company intends to use the funds to continue the clinical development of TORL-1-23, its ADC to treat CLDN 6+ tumors, through Phase 1 and a pivotal Phase 2 trial that will start in the second half of 2024. Proceeds will also be used to fund the on-going Phase 1 studies for the TORL-2-307 program, both a monoclonal antibody (mAb) and an ADC, for the treatment of CLDN 18.2+ solid tumors, TORL-3-600, an ADC for the treatment of CDH17+ colorectal cancer, and TORL-4-500, an ADC for the treatment of Delta like non-canonical Notch Ligand 1 (DLK1) positive solid tumors.
Led by Mark Alles, Chairman and CEO, TORL BioTherapeutics is a clinical-stage biopharmaceutical company developing new antibodies, both monoclonal (mAbs) and drug conjugates (ADCs), with the goal of transforming the lives of patients challenged with a variety of human malignancies. Through a strategic partnership with the Slamon Research Lab at UCLA, it has exclusive development and commercial rights to a large program of biologics-based drugs for new, promising, and novel cancer targets.
TORL’s pipeline of targets, ADCs and mAbs were discovered in the laboratory of Board Member and Scientific Co-founder Dennis Slamon, M.D., Ph.D., Professor of Medicine, and Chief of the Division of Hematology/Oncology at UCLA’sDavid Geffen School of Medicine.
FinSMEs
10/04/2024