Venture Capital News: Peloton Therapeutics Lands $52.4M Financing
DALLAS, TX, Peloton Therapeutics, a drug discovery and development company focused on advancing first-in-class, small molecule cancer therapies, announced today the completion of a $52.4 million Series D financing round.
The financing round included new investor Foresite Capital Management and participation from all existing investors, including Remeditex LLC, The Column Group, Tichenor Ventures LLC, Topspin Fund LP, and Nextech Invest Ltd. As part of the Series D financing, Foresite Capital Management will add an observer to Peloton's Board of Directors.
'We are pleased to support Peloton's efforts to develop first-in-class, small molecule drugs against challenging and important molecular targets in oncology,' stated Jim Tananbaum, M.D., Chief Executive Officer and Managing Director of Foresite Capital. 'The company's lead program targeting hypoxia-inducible factor-2α (HIF-2α) has generated exciting responses in patients with renal cell carcinoma, with potential applications in von Hippel-Lindau disease, glioblastoma multiforme and other diseases with high unmet medical need.'
'Foresite Capital is well respected for their contributions to the success of their portfolio companies. We are very pleased to benefit from the enthusiastic support of our entire investor base,' said John A. Josey, Ph.D., Peloton's Chief Executive Officer. 'With this financing in place, we are well positioned to realize the full potential of our HIF-2α antagonists and advance our other research programs.'
About Peloton Therapeutics
Peloton Therapeutics, Inc., is a clinical-stage biotechnology company that discovers and develops first-in-class, small molecule cancer therapies targeting unexploited molecular vulnerabilities. Peloton Therapeutics' lead program, PT2385, is a first-in-class small molecule targeting hypoxia-inducible factor-2α (HIF-2α), a transcription factor implicated in the development and progression of kidney and other cancers. To learn more about Peloton Therapeutics, visit www.pelotontherapeutics.com.
>> Click here for in-depth research on 9,000+ startups and 5,000+ VC investors
(c) by Massinvestor, Inc. For contact info, please check out our about