Scorpion Therapeutics has secured $150m in a Series C financing round to progress the development of its clinical-stage oncology pipeline. Lightspeed Venture Partners and Frazier Life Sciences jointly led the funding round with support from Willett Advisors and other healthcare institutional investors. The gold standard of business intelligence.
The round also saw continued backing from existing investors Vida Ventures, Omega Funds, Atlas Venture and Abingworth, among others. In conjunction with the funding, Lightspeed Venture partner Shelley Chu will become an investor board member and Frazier Life Sciences managing partner Albert Cha will join the board of Scorpion as an observer. The proceeds will be used by the company to advance the clinical development of oncology assets including STX-478, an allosteric, differentiated, mutant-selective PI3Kα inhibitor.
A Phase I/II trial is currently assessing STX-478’s safety and tolerability in multiple ascending doses for patients with locally advanced or metastatic HR+/HER2- breast cancer and other solid tumours with PI3Kα mutations. Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research.
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