Key Highlights
- 858 Therapeutics raises $50M in Series B financing led by Avidity Partners.
- Proceeds to advance ETX-19477, a selective PARG inhibitor for cancer treatment.
- Phase 1 clinical trials of ETX-19477 are underway in patients with advanced solid tumors.
- Strong support from life science investors including Avidity Partners, Insight Partners, and others.
Source: Business Wire
Notable Quotes
- “The Series B financing is a testament to the 858 team and the progress we’ve made across our portfolio, including the advancement of our PARG inhibitor ETX-19477 into the clinic.” — Jeffrey Stafford, Ph.D., CEO at 858 Therapeutics
- “We are excited to partner with the company to help address unmet needs across a variety of disease types in an effort to bring transformative medicines to patients.” — Monal Mehta, Ph.D., Managing Director at Avidity Partners
SoHC's Take
The $50 million Series B financing marks a pivotal moment for 858 Therapeutics, underscoring the confidence investors have in the company’s scientific progress and strategic focus on DNA repair mechanisms and cancer treatment. With the ongoing Phase 1 trial of ETX-19477, the company is well-positioned to lead advancements in targeting PARG, potentially bringing new hope to patients with advanced solid tumors.
