Israel-based oncology drug developer Presage Biosciences has raised $13m from investors including research services provider LabCorp and pharmaceutical firms Takeda and Bristol Myers Squibb.
New investors including LabCorp’s Venture Fund, Bristol Myers Squibb and venture capital and private equity firm InHarv Partners supplied $7m in equity funding while Takeda provided $6m in convertible note financing through subsidiary Takeda Ventures.
Presage is developing cancer therapeutics based on its intratumoral microdosing technology, and disclosed the financing alongside research partnerships with pharmaceutical companies Merck & Co and Maverick Therapeutics.
This round brought the total equity funding raised by Presage to $35m, it said. It closed a $6m series D round co-led by pharmaceutical firms Takeda and Celgene in 2018. Celgene provided $8m for the company in 2013 before Takeda Ventures invested an undisclosed amount of funding two years later.
