US-based precision medicine developer Vividion Therapeutics closed a $135m series C round today that included SoftBank Investment Advisers, which manages telecommunications and internet group SoftBank’s Vision Funds.
Logos Capital and Boxer Capital co-led the round, which included Avoro Capital Advisors, RA Capital Management, Surveyor Capital, Woodline Partners, Acuta Capital, Driehaus Capital Management, funds and accounts managed by BlackRock and funds and accounts advised by T Rowe Price.
Existing investors Arch Venture Partners, BVF Partners, Casdin Capital, Mubadala Capital, Nextech Invest and Versant Ventures filled out the participants in the round.
Vividion is working on precision small molecule therapeutics to treat cancer and immune disorders by addressing previously undruggable targets.
The round brought the company’s funding to about $372m since it was spun off by medical research organisation Scripps Research Institute, with its early backers including Arch Venture Partners, Cardinal Partners and Versant Ventures.
Pharmaceutical firm Celgene provided $101m in equity financing and upfront funding for Vividion in 2018 through a strategic collaboration agreement. It raised $82m in a mid-2019 series B round featuring Celgene and Alexandria Venture Investments, part of real estate investment trust Alexandria Real Estate Equities.
The series B round was led by Nextech Invest and was also backed by financial services provider Mirae Asset Capital, BVF Partners, Casdin Capital, Mubadala Ventures, Trinitas Capital, Altitude Life Science Ventures, Arch Venture Partners, Versant Ventures and Cardinal Partners.
Vividion CEO Jeffrey Hatfield said: “Vividion has made significant progress advancing drug discovery beyond the traditional boundaries of druggability. By leveraging our unique platform technologies, we are building a robust pipeline of precision oncology and immunology programmes.
“We are excited to have attracted such a distinguished group of healthcare investors, whose support will be instrumental in fueling the continued maturation of our broad pipeline, with the intention of beginning to advance programmes into the clinic next year.”
