US-based cancer treatment developer Auron Therapeutics closed a $12.8m seed round yesterday that included pharmaceutical firm Eli Lilly.
Polaris Partners, Arkin Bio Ventures and Qiming Venture Partners USA co-led the round, which also featured American Cancer Society’s investment arm BrightEdge, as well as Casdin Capital and private investor Franklin Berger.
Auron is developing cancer therapies intended to restore malignant cells to a normal state rather than trying to kill them. The funding will help it advance its lead programme towards preclinical development while it explores other disease targets.
Isaac Ciechanover of Polaris Partners will join the startup as chairman while Alon Lazarus of Arkin Bio and Anna French of Qiming will also take seats on its board of directors. Brad Robling, vice-president of Eli Lilly vehicle Lilly New Ventures, will take an observer seat.
The original version of this article appeared on our sister site, Global University Venturing.
