Key Highlights
- Oversubscribed $150 million Series A-1 financing led by New Enterprise Associates, Deep Track Capital, Sofinnova Investments, and Sands Capital.
- Funds to advance the promising AVZO-021, a CDK2 selective inhibitor for advanced solid tumors.
- Jakob Dupont, M.D., of Sofinnova Investments, joins the Avenzo Board of Directors, bringing over two decades of oncology experience.
Source: Business Wire
Notable Quotes
- “The team at Avenzo has made great progress over the past 18 months since formation on our mission to advance the next generation of oncology therapies for patients,” – Athena Countouriotis, M.D., Co-founder, President and CEO at Avenzo
- “We see significant opportunity with AVZO-021 and this team to advance potential best-in-class therapies for some of the most pressing needs in oncology today,” – Jakob Dupont, M.D., Executive Partner, Private Equity at Sofinnova Investments
SoHC's Take
Avenzo Therapeutics’ latest financial milestone significantly boosts its mission to redefine oncology treatment. The successful closure of its Series A-1 financing, led by prominent investment firms, is a testament to the industry’s belief in Avenzo’s vision and potential. With a total capital of $347 million raised since its inception, Avenzo is well-equipped to push the boundaries of cancer treatment further. The addition of Jakob Dupont, M.D., to the board underscores the strategic advantage Avenzo aims to leverage in advancing its oncology pipeline. The focus on AVZO-021, a CDK2 selective inhibitor, highlights the company’s dedication to addressing unmet medical needs in oncology. This development represents not just a financial achievement but a step forward in the quest for innovative cancer therapies.
