Nutcracker, RefleXion Score Fresh Funds for Oncology Innovation
Two oncology-focused biotechnology firms generated a total of $247 million in additional funding to support their respective research and development efforts for cancer treatment.
Nutcracker Nets $167M In Series C Round, Names New Board Member
Nutcracker Therapeutics raised $167 million from its Series C funding round to advance activities involving RNA therapeutics. In a statement, the company said a huge chunk of the amount will go to its pipeline of mRNA medicines to treat cancer, particularly toward its RNA manufacturing platform and related technology.
Nutcracker's platform combines RNA biochemistry with microfluidic engineering, semiconductor-like biochips and its nanoparticle delivery technology to create RNA manufacturing pathways that are fully automated and isolated. This will support the research team's entire development process, from clinic to commercialization, by increasing speed and scale.
"With this significant milestone and the support of our top-flight investors and partners, we are well-positioned to begin the next phase of Nutcracker's evolution: accelerating RNA therapeutics development within the company and beyond using our unique 'GMP-in-a-box' platform, and meet the rising demand for RNA therapies and their efficient, scalable manufacturing," commented Igor Khandros, Ph.D., co-founder and chief executive of Nutcracker.
Alongside the announcement is Michael F. Bigham's appointment to the board of directors. Bigham was the CEO but still serves as chairman of Paratek Pharmaceuticals. Bigham brings 30 years of experience in the life sciences and biopharma industries to his new role. Previously, he served as CEO of Coulter Pharmaceuticals, general partner of Abingworth and in various senior positions at Gilead Sciences. The Series C funding round was led by ARCH Venture Partners.
RefleXion Medical Gets $80M Capital Injection To Advance BgRT Efforts
In other oncology news, therapeutic oncology firm RefleXion Medical received $80 million in equity financing from existing and new investors to further development efforts for its biology-guided radiotherapy (BgRT) technology for all cancer stages.
RefleXion's BgRT is the first and only technology that can transform an injected radiotracer into a unified motion management solution that can address radiotherapy's limitations. The technology already has a Breakthrough Device designation from the U.S. Food and Drug Administration for use in lung tumors. Further development activities aim to use BgRT to create new treatment solutions that can address a broader range of metastatic diseases across various cancer sites.
"RefleXion's breakthrough technology holds the potential to expand the reach of radiotherapy to late-stage cancers where five-year survival is less than 31%. We believe wholeheartedly in their goals of improving outcomes for these patients, and in prioritizing the availability of BgRT at community hospitals thereby enabling patients to receive their cancer treatment without traveling long distances," noted Tara Butler, M.D., the senior managing director of Ascension Ventures, one of RefleXion's investors, in a press release.
Also contributing to the $80 million financing were Sixty Degree Capital, Hillenbrand Capital Partners and Catalio Capital Management.
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