Linnaeus Therapeutics, a biopharmaceutical firm spun out from the University of Pennsylvania, has raised $1.6 million through an equity financing. With this latest funding, the South Jersey-based company has secured over $13 million in five rounds of financing since its inception in 2016. Linnaeus is focused on developing oncology therapeutics targeting G protein-coupled receptors. The company’s lead candidate, LNS8801, has been granted orphan drug status by the FDA for treating metastatic uveal melanoma. Linnaeus also has a partnership with Merck to evaluate LNS8801 in combination with Keytruda. The company’s investors include Kairos Ventures and The Penn Medicine Co-Investment Fund, and it received a $4 million grant from the National Cancer Institute in 2022.
Biopharmaceuticals, Venture Capital,United States
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