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news.Peloton Therapeutics, a drug discovery and development company advancing oral medicines for cancer and other serious conditions, has announced the closing of an oversubscribed $150 million Series E financing.
Image: Peloton Therapeutics secures $150m in Series E financing. Photo: courtesy of IndypendenZ/FreeDigitalPhotos.net.
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The financing was led by RA Capital Management and was joined by new investors including Eventide Asset Management, Biotechnology Value Fund, OrbiMed, EcoR1 Capital, Vida Ventures, Curative Ventures and Driehaus Capital Management LLC. Peloton’s existing investors, including The Column Group, Nextech Invest Ltd, Topspin Fund LP, Tichenor Ventures LLC and Foresite Capital Management also participated in the financing.
“We are delighted to have received such avid support from this eminent group of healthcare investors,” said John Josey, Ph.D., Peloton’s Chief Executive Officer. “Proceeds from this financing will be used to advance Peloton’s research and development pipeline, including our lead drug candidate, PT2977, a potent and selective oral HIF-2α inhibitor.”
“RA Capital is excited to support Peloton as it moves towards a Phase 3 trial of PT2977 for patients with metastatic renal cell carcinoma and pushes forward clinical development of this drug candidate in Von Hippel-Lindau disease, a familial cancer syndrome for which there are currently no approved drugs,” said Derek DiRocco, Ph.D., Principal, RA Capital Management.
Source: Company Press Release
