Avenzo Therapeutics, a San Diego, CA-based clinical-stage biotechnology company developing new oncology therapies for patients, raised an undisclosed amount in Series A/A1 funding.
The prior syndicate of investors, namely OrbiMed, Foresite Capital, SR One, Lilly Asia Ventures, Surveyor Capital (a Citadel company), New Enterprise Associates (NEA), Deep Track Capital, Sofinnova Investments, Sands Capital, INCE Capital, TF Capital, Delos Capital, and Quan Capital participated in this tranche, bringing the total capital raised to approximately $386M.
Led by Athena Countouriotis, M.D., President and CEO, Avenzo Therapeutics is a clinical-stage biotechnology company developing oncology therapies. Its lead drug candidate, AVZO-021, is a novel, highly potent and selective inhibitor of CDK2, a key enzyme involved in cell cycle regulation. AVZO-021 is being studied in a Phase 1 study in the U.S. for the treatment of advanced solid tumors, and in combinations in HR+/HER2-negative metastatic breast cancer.
Avenzo also announced it has entered into an exclusive option agreement with VelaVigo for an exclusive license to develop, manufacture and commercialize a potential first-in-class Nectin4/TROP2 bispecific antibody-drug conjugate (ADC), globally (excluding Greater China). Nectin4 and TROP2 are highly co-expressed in multiple solid tumor types, including metastatic urothelial cancer.
Finally, the company promoted of Scott Lipman, MBA to Chief Business Officer. Mr. Lipman joined Avenzo in March 2023 as Senior Vice President, Corporate Development and has led the company’s business development and strategy functions.
FinSMEs
19/11/2024