US-based precision oncology drug developer Scorpion Therapeutics completed a $108m series A round yesterday that included Partners HealthCare Innovation, an investment vehicle for health system Partners Healthcare.
Venture capital firm Atlas Venture co-led the round with life sciences investment firms Omega Funds and Vida Ventures, while life sciences-focused investment group Abingworth also participated.
Scorpion is developing precision small molecule cancer treatments intended to attack cancerous cells without damaging healthy surrounding tissue. It is looking to create drug candidates focusing on what it refers to as classic but undruggable cancer targets.
Gary D. Glick, Scorpion’s founding president and chief executive, had previously founded IFM Therapeutics, the small molecule therapy developer acquired by Bristol-Myers Squibb in a 2017 deal sized at up to $2.3bn.
Glick said: “At Scorpion, we have assembled a world-class team to push the limits of biology, bioinformatics, and medicinal chemistry to identify and drug the most promising therapeutic targets for cancer patients.
“Our deep capabilities in next-generation chemistry enable us to design precision therapeutics for both new targets and those previously dismissed as undruggable. Moreover, we have assembled leaders in clinical development, with the expertise to efficiently advance our product candidates to patients.
“With these tools, we are building an unparalleled pipeline of small-molecule drugs to address untapped vulnerabilities in cancer and provide fresh hope to people in need.”
