US-based cancer therapy developer Lengo Therapeutics, which is backed by biopharmaceutical firm Jubilant Life Sciences, launched yesterday with $15m in series A funding from growth equity firm Frazier Healthcare Partners
Lengo has exclusively licensed chemicals discovered at Jubilant that could potentially combat cancerous genetic mutations unaddressed by existing cancer treatments.
The company was formed after Frazier Healthcare’s oncology team chose molecules from Jubilant’s chemical portfolio corresponding to novel mutation targets.
Jubilant and Frazier have partnered on discovery-stage collaborations since 2016. The first, cancer drug developer Mavupharma, was acquired by pharmaceutical firm AbbVie in July 2019.
Shyam Bhartia and Hari Bhartia, co-founders of Jubilant Life Sciences, said: “We are pleased to be strengthening our ties with Frazier Healthcare Partners. We welcome the addition of Lengo to the pipeline of companies we are working on together in drug discovery.”