Endeavor BioMedicines Secures $132.5M in Series C Funding
Slice of Healthcare Team
Apr 26, 2024
Key Highlights
- $132.5 million raised in oversubscribed Series C round, including significant investment conversions.
- Funds to boost clinical trials for ENV-101 and ENV-501, targeting pulmonary fibrosis and HER3-positive solid tumors, respectively.
- Strong backing from new and existing investors, enhancing Endeavor's robust financial and strategic positioning.
Source: Business Wire
Notable Quotes
“ We appreciate the support from this group of leading life sciences investors, who recognize the tremendous progress we’ve made since our initial funding rounds as well as the life-changing potential of our therapeutic candidates to reverse the trajectory of relentless diseases, ”
John Hood, Ph.D., Co-Founder, CEO and Chairman at Endeavor
“ Endeavor BioMedicines’ novel drug candidates have the potential to disrupt the underlying mechanisms that cause serious, life-threatening diseases, ”
Karan Takhar, Senior Managing Director at Matrix
SoHC's Take
Endeavor BioMedicines' successful Series C financing is a pivotal moment in the biotech industry, signaling strong confidence from investors in the company’s potential to redefine treatment paradigms. With significant advancements in their pipeline, particularly ENV-101 and ENV-501, Endeavor is well-positioned to address unmet needs in idiopathic pulmonary fibrosis and HER3-positive solid tumors. This infusion of capital will not only accelerate their clinical programs but could also set new standards for efficacy in these challenging therapeutic areas. As the company heads towards significant clinical milestones in 2024, the industry will be keenly watching their progress.
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