Pharmaceutical company Salubris Pharmaceuticals has invested $10m in US-based herpes drug developer Viracta Therapeutics to lead a funding round of undisclosed size for the company.
Immunotherapy developer NantKwest, boutique venture capital fund Virtus Inspire Ventures and healthcare-focused VC firms Latterell Venture Partners and Forward Ventures also participated in the round.
Viracta aims to treat viral-associated cancers linked to a strain of herpes called Epstein Barr Virus (EBV). The company plans to start a clinical trial for its lead drug candidate, VRx-3996, for the treatment of EBV-associated solid tumours in the next year.
Salubris has also signed a licensing agreement for Viracta’s virus-associated malignancies therapies in China, which will allow Viracta to receive up to $58m in pre-commercial milestones.
In April 2017, Viracta closed the first tranche of a series B round led by NantKwest sized at $9.9m with an expected $26.9m close according to a regulatory filing. Wicklow Capital, Latterell Venture Partners and Forward Ventures also took part in that round.
Lilly Ventures, a corporate venturing subsidiary of pharmaceutical firm Eli Lilly, took part in the company’s $20m series A round in 2007, investing alongside De Novo Ventures and Forward Ventures.
The same three subsequently participated in a series B round that also featured Aberdare Ventures, and which initially closed at $16.1m in 2010, when Viracta was still known as HemaQuest. Lilly Ventures, Aberdare, De Novo, Forward and Latterell went on to provide another $13m two years later.