US-based biopharmaceutical company Effector Therapeutics secured $40m in series B round on Tuesday featuring pharmaceutical firms GlaxoSmithKline (GSK), AbbVie, Astellas and Novartis.
GSK, AbbVie, Astellas and Novartis invested through their respective corporate venturing subsidiaries SR One, AbbVie Biotech Ventures, Astellas Ventures and Novartis Ventures.
The round was led by Altitude Life Science Ventures and also included Abingworth, BioMed Ventures, Column Group, US Venture Partners, Osage University Partners and Mission Bay Capital.
Effector is developing treatments for various types of cancer, including solid tumours and lymphoma.
The funding will support a phase 1/2 clinical trial for the company’s lead candidate as well as research into additional applications for the treatment and a clinical trial for a second drug candidate.
Dave Maki, managing partner at Altitude Life Science Ventures, has joined Effector’s board of directors.
Effector closed a $45m series A round in 2013 backed by Novartis Ventures, SR One, Astellas Ventures, US Venture Partners, Abingworth, Osage University Partners and Mission Bay Capital.