Oncology Therapeutic Company VelosBio Rakes $137 Million in Series B Financing!

: July 08, 2020

Oncology Therapeutics Company VelosBio Rakes $137 Million in Series B Financing!

 

 

SAN DIEGO, CALIFORNIA:

 

A next-generation oncology company, developing novel antibody-drug conjugates (“ADCs”) to treat haematological cancers and solid tumours. VelosBio is committed to developing novel, first-in-class cancer therapies targeting receptor tyrosine kinase-like orphan receptor 1 (ROR1).

 

The company completed an oversubscribed Series B financing of $137M on July 08, 2020. The round was led by Matrix Capital Management and Surveyor Capital (a Citadel company). Other investors included  Adage Capital Management LP, Cormorant Asset Management, Farallon, Foresite Capital, Janus Henderson Investors, Logos Capital, OrbiMed, Venrock Healthcare Capital Partners, Viking Global Investors, Wellington Management Company, Arix Bioscience, Decheng Capital, Pappas Capital, Sofinnova Ventures, and Takeda Ventures also participated in the round.

 

VelosBio has developed its first ADC linking a humanized anti-ROR1 monoclonal antibody to the cytotoxin, monomethyl auristatin E (MMAE). This lead investigational drug, VLS-101, has demonstrated positive preclinical results in tumor models and currently is being evaluated in a Phase 1, first-in-human, dose-escalation and cohort-expansion study in patients with hematologic malignancies.

 

Applying its proprietary ROR1-targeting technology, VelosBio is generating additional ADC and BiAb therapies with the potential to offer clinical benefit across a range of hematologic and solid tumors.

----------------