Pheon Therapeutics, an expert in Antibody-Drug Conjugates (ADCs) for difficult-to-treat cancers, has successfully closed a $120 million Series B financing round. The main investors include TCGX, BVF Partners, Lightspeed Venture Partners, and Perceptive Advisors. This capital will propel the development of Pheon’s differentiated ADC pipeline through clinical proof of concept. The company’s first three ADCs target a novel, highly-expressed marker in solid tumors, with plans to commence Phase 1 clinical trials in 2024. The financing will also aid in expanding Pheon’s in-house platforms for generating optimized ADC constructs. CEO Cyrus Mozayeni emphasized the significance of this financing round as they transition to a clinical-stage company. TCGX’s Managing Partner, Cariad Chester, who will join Pheon’s board, expressed enthusiasm about the company’s innovative ADC programs.

Biotechnology, Healthcare Investment, Pharmaceuticals,United Kingdom, United States