US-based biotechnology company CytomX, backed by drugs company Pfizer and healthcare company Roche, has closed a $70m series D round led by financial conglomerate Fidelity Management and Research Company.
The round featured Casdin Capital, Cormorant Asset Management, Deerfield Management, Perceptive Advisors, Redmile Group, Tekla Healthcare Investors, Tekla Life Sciences Investors, Venrock Healthcare Capital Partners, Wellington Management Company and a range of unnamed investors.
CytomX is developing a cancer treatment based on masked antibodies known as probodies. These probodies stay inert in healthy tissue until cancerous cells are detected, and enable a precise targeting of tumours that leave other cells undamaged.
The company will use the series D funding to advance its pipeline towards clinical trials and to support research and development efforts.
In January 2015, Pfizer Venture Investments, the corporate venturing arm of Pfizer, led a $20m series C round that also included Roche’s corporate venturing division Roche Venture Fund, Third Rock Ventures and Canaan Partners.
Canaan led a $41m series B round in 2012, which featured Roche and Third Rock. In 2009, CytomX reportedly attracted $5m for a series A round from undisclosed angel investors.