Peloton Therapeutics Secures $150 Million in Series E Financing
- Proceeds to advance oral HIF-2α inhibitor, PT2977, into Phase 3 trial in advanced renal cell carcinoma –
- Financing led by RA Capital Management -
DALLAS--(BUSINESS WIRE)-- Peloton Therapeutics, Inc., a drug discovery and development company advancing first-in-class oral medicines for cancer and other serious conditions, today announced the closing of an oversubscribed $150 million Series E financing. The financing was led by RA Capital Management and was joined by new investors including Eventide Asset Management, Biotechnology Value Fund, OrbiMed, EcoR1 Capital, Vida Ventures, Curative Ventures and Driehaus Capital Management LLC. Peloton’s existing investors, including The Column Group, Nextech Invest Ltd, Topspin Fund LP, Tichenor Ventures LLC and Foresite Capital Management also participated in the financing.
“We are delighted to have received such avid support from this eminent group of healthcare investors,” said John Josey, Ph.D., Peloton’s Chief Executive Officer. “Proceeds from this financing will be used to advance Peloton’s research and development pipeline, including our lead drug candidate, PT2977, a potent and selective oral HIF-2α inhibitor.”
“RA Capital is excited to support Peloton as it moves towards a Phase 3 trial of PT2977 for patients with metastatic renal cell carcinoma and pushes forward clinical development of this drug candidate in Von Hippel-Lindau disease, a familial cancer syndrome for which there are currently no approved drugs,” said Derek DiRocco, Ph.D., Principal, RA Capital Management.
About Peloton Therapeutics
Peloton Therapeutics, Inc. is a clinical-stage biopharmaceutical company focused on translating novel scientific insights into first-in-class medicines for patients with cancer and other debilitating or life-threatening conditions. The company’s lead development program is evaluating a small-molecule inhibitor of hypoxia-inducible factor-2α (HIF-2α), a transcription factor implicated in the development and progression of clear cell renal cell carcinoma and a variety of other disorders. HIF-2α was previously thought to be intractable using small molecules.
To learn more about Peloton Therapeutics, visit www.pelotontherapeutics.com.
Source: Peloton Therapeutics, Inc.