Pheast Therapeutics Raises $76M in Series A Funding

Pheast Therapeutics, a Palo Alto, CA-based company developing checkpoint therapies to fight cancer, raised $76M in Series A funding.

The round was led by Catalio Capital Management and ARCH Venture Partners with participation from Alexandria Venture Investments and Risk and Reward.

The company intend sto use the funds to expand its management, scientific, and administrative teams, as well as towards R&D to advance its pipeline of innate immune checkpoint inhibitors towards the clinic.

Led by scientific experts Dr. Amira Barkal, MD, PhD, Dr. Irving Weissman, MD, Dr. Ravi Majeti, MD, PhD, and Dr. Roy Maute, PhD., Pheast is a pre-clinical stage immuno-oncology company focused on targeting cancer immune evasion pathways to activate the innate immune system in the fight against cancer. Its primary program targets the surface protein CD24, a “don’t eat me” signal commandeered by many cancers, including ovarian and breast cancer, in order to avoid detection and clearance by intra-tumoral macrophages. Pheast is also leveraging its proprietary discovery platform to enable the development of additional novel tumor-specific cancer immunotherapies.

FinSMEs

27/04/2022