US-based cancer therapy developer Boundless Bio completed a $105m series B round that included Alexandria Venture Investments, the venture capital arm of life sciences real estate investment trust Alexandria Real Estate Equities.
Investment management firm RA Capital Management and VC firm Nextech Invest co-led round, which also featured investment and financial services group Fidelity Management & Research.
Redmile Group, Wellington Management, Surveyor Capital, PFM Health Sciences, Logos Capital, Arch Venture Partners, City Hill Ventures, Vertex Ventures HC, GT Healthcare Capital Partners and Tavistock Group’s Boxer Capital subsidiary filled out the investors.
Boundless is working on a pipeline of precision cancer drugs designed to target the extrachromosomal DNA (ecDNA) of aggressive cancers, using its proprietary ecDNA Harboring Oncogenes (ECHO) platform.
The latest round follows a $46.4m series A in September 2019 that was co-led by Arch Venture Partners and City Hill Ventures and backed by Alexandria Venture Investments, Vertex Ventures, GT Healthcare Capital Partners and Boxer Capital.
Zachary Hornby, president and CEO of Boundless, said: “Over the past two years our team has custom built a platform, called Spyglass, that enables us to interrogate ecDNA in cancer and reveal key therapeutically targetable liabilities in ecDNA-driven, gene amplified tumours.
“From these efforts, we have discovered and validated three ecDNA-essential targets and have initiated drug discovery against each. In addition, we are developing the ECHO companion diagnostic assay to identify patients with ecDNA-driven tumours.
“This financing round and stellar investor syndicate reflects the investment community’s appreciation for the high unmet clinical need of patients with oncogene amplified cancers and the promise of our innovative approach to targeting ecDNA to improve and prolong the lives of these patients.”
