Zentalis Pharmaceuticals, a US-based small molecule therapeutics developer backed by contract research firm Pharmaron, closed an $85m series C round yesterday.
The round included Matrix Capital, Viking Global Investors, Redmile Group, Farallon Capital, Perceptive Advisors, Eventide Asset Management and Surveyor Capital, a division of asset manager Citadel.
Founded in 2014, Zentalis oversees a pipeline of drug candidates to treat breast cancer and solid tumours, the advancement of which will be supported by the series C funding.
The company’s lead candidate, a selective oestrogen receptor degrader called ZN-c5 that is in phase 1/2 trials for breast cancer both as a monotherapy and a combination therapy with a drug developed by pharmaceutical firm Pfizer. It is also has a candidate known as ZN-c3 in phase 1 trials for solid tumours.
Zentalis CEO Anthony Sun said: “Zentalis is delighted to partner with its outstanding group of leading healthcare investors to drive forward best-in-class chemistry for cancer patients.
“In my career, I have never seen a company progress at this pace with three [investigational new drugs] accepted in the first five years since inception. I am very proud of our team for these remarkable accomplishments.
“This financing reflects strong support for our capabilities, people and pipeline. The investment positions us to implement our clinical and partnering strategies around our current pipeline and to accelerate expansion of our team.”
The company said it has now raised a total of $147m but has not disclosed details of its previous funding but lists Pharmaron, Alexandria Venture Investments, the venture capital arm of real estate investment trust Alexandria Real Estate Equities, and investment firm Highlight Capital as investors.
