US-based cancer treatment developer Accent Therapeutics closed a $63m series B round yesterday featuring GV and AbbVie Ventures, respective investment vehicles for internet and technology conglomerate Alphabet and pharmaceutical firm AbbVie.
The round was led by investment advisory firm EcoR1 Capital and included NS Investment, an investment affiliate of pharmaceutical firm Dong-A ST, in addition to Mark Foundation for Cancer Research, Droia Ventures, Atlas Venture and Column Group.
Founded in 2017, Accent is working on cancer therapies that target the proteins that modify RNA, with potential applications in solid tumour and immuno-oncology drugs. The series B financing will enable it to advance its lead assets and expand its pipeline.
The company’s co-founders include Howard Chang, the Virginia and DK Ludwig professor of cancer genomics and of genetics at Stanford University, and Chuan He, the John T. Wilson distinguished service professor at University of Chicago.
Shakti Narayan, Accent’s chief executive, said: “We are thrilled to have the support of this remarkable group of investors that share our vision for developing novel therapies for patients in need.
“With the progress we have made to date and expect to make in the coming months, the next phase of Accent’s growth is set to be truly transformational.”
Accent had previously disclosed $40m in series A funding from Column Group, Atlas Venture and EcoR1 Capital when it launched in May 2018.
