Scorpion Therapeutics, a cancer therapy developer backed by care provider Partners Healthcare, closed a $162m series B round yesterday co-led by Boxer Capital, EcoR1 Capital, Omega Funds and Vida Ventures.
Surveyor Capital, Invus, Wellington Management Company, Nextech Invest, OrbiMed, Casdin Capital, Woodline Partners, Logos Capital, Janus Henderson Investors, Atlas Venture and Abingworth also took part in the round along with unnamed institutional investors.
Founded in the first quarter of 2020, Scorpion is developing precision medicines to treat cancer using a drug hunting engine that combines translational medicine, chemical biology, medicinal chemistry and data science technology.
Scorpion’s president and CEO, Gary D. Glick, said: “This financing will enable us to increase our investment in our platform technologies and programmes, as we execute with equal parts urgency and rigor to transform the standard-of-care in cancer.
“We aim to advance new therapies that provide deeper and more durable responses, are less toxic to healthy tissues and have the potential to overcome key mechanisms of resistance.
“We look forward to naming our first development candidate in 2021, initiating clinical trials in 2022 and, ultimately, to delivering a pipeline of next-generation targeted cancer therapies to patients who need them.”
Atlas Venture, Omega Funds and Vida Ventures co-led a $108m series A round disclosed when the company emerged from stealth in October 2020, investing alongside Partners Healthcare’s Partners HealthCare Innovation vehicle and Abingworth.
