Bridge Medicines Announces Additional Funding of $10 Million from Inside Investors

Bridge Medicines receives $10 million capital infusion from investors Takeda Pharmaceutical Company Ltd., Bay City Capital, and Deerfield

 

NEW YORK, Nov. 12, 2020 /PRNewswire/ -- Bridge Medicines, a pioneering drug discovery company focused on advancing promising early technologies from concept to clinic, announced today the additional funding of $10 million to advance its current pipeline of products as well as expand with additional in-licensed technologies.

Bridge Medicines, launched in 2016 by Memorial Sloan Kettering Cancer Center, The Rockefeller University, Weill Cornell Medicine and Takeda Pharmaceutical Company Ltd., in partnership with Deerfield Management Company and Bay City Capital, is a groundbreaking initiative that extends the work of the independent, non-profit Tri-Institutional Therapeutics Discovery Institute.

Bridge Medicines is currently developing novel inhibitors of ENL-YEATS for the treatment of acute leukemias such as acute myelogenous leukemia and a series of orally active small molecule inhibitors of activated factor XII for the treatment of hereditary angioedema and other inflammatory disorders. In addition, Bridge Medicines is in discussions on and evaluating several other in-licensing opportunities from our institutional partners.

"Bridge Medicines was founded four years ago on a mission to discover and develop promising therapeutic technologies emerging from the cutting-edge science discovered on the campuses of our renowned academic partners," said Bill Polvino, MD, Chief Executive Officer of Bridge Medicines. "We are privileged and pleased to benefit from the continued strong support of our investor partners who have provided financial and strategic support for our efforts from day one. Without the commitment of capital, and industry-savvy executives, the opportunity to develop highly innovative products is lost. Our partners share in our passion to meet the challenge of addressing unmet medical needs and creating a vibrant New York City biotech ecosystem."

About Bridge Medicines
Bridge Medicines is a pioneering drug-discovery company focused on advancing promising early technologies in major academic institutions from proof-of-concept to clinical development. Launched by Memorial Sloan Kettering Cancer Center, The Rockefeller University, Weill Cornell Medicine, and Takeda Pharmaceutical Company Limited, in partnership with Deerfield Management Company and Bay City Capital, Bridge Medicines is a groundbreaking initiative that provides an unbroken, fully funded and professionally staffed path from discovery to drug candidate. For more information about Bridge Medicines, please visit www.BridgeMedicines.com.

Contact:
Matt Stroschein
Jacob S. Lasdon House, 5th Floor
420 East 70th Street
New York, NY 10021
info@bridgemedicines.com

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SOURCE Bridge Medicines

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