Pathios Therapeutics Raises $25M in First Close of Series B Financing to Advance First-in-Class Immunotherapy Approach into Clinic [Yahoo! Finance]
Bristol-Myers Squibb Company (BMY)
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Source: Yahoo! Finance
Proceeds to be Used to Advance Lead Candidate, PTT-4256, into the Clinic and Expand Leadership Team to Align with Pathios' Transition into a Clinical-Stage Company OXFORD, England April 18, 2024 /PRNewswire/ -- Pathios Therapeutics Limited ("Pathios"), a biotech company focused on the development of first-in-class therapies for cancer, today announced that the company has raised $25 million in the first close of a Series B financing. The financing consists of a new strategic investment from Bristol Myers Squibb, as well as support from existing investors including Canaan and Brandon Capital. Proceeds from the raise will be used to support the continued development of Pathios' unique approach to cancer immunotherapy focused on the inhibition of GPR65, a novel target that has been genetically associated with a range of immunologically-mediated diseases. As part of these efforts, the company expects to advance PTT-4256, its lead internally discovered, oral, highly potent, and selectiv
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