BRIEF—Deerfield commits $36 million to advance Dracen's novel immuno-metabolism pipeline

Deerfield Management announced today that it has committed $36 million of a $40 million Series A investment to advance Dracen Pharmaceuticals' novel immuno-metabolism pipeline.

Dracen, a private company developing proprietary anti-cancer drugs discovered at the Johns Hopkins University and the Institute of Organic Chemistry and Biochemistry of the Czech Academy of Sciences (IOCB Prague), will use this financing to progress its programs into clinical trials for patients suffering from cancer.

Dracen will develop its platform of novel glutamine antagonists by building upon the immuno-metabolism effects demonstrated in preclinical cancer models. Immuno-metabolism is the convergence of cancer metabolism and immuno-oncology whereby agents disrupt the energy sources required to keep tumors alive while simultaneously inducing the patient's own immune system to fight cancer. Dracen intends to develop its glutamine antagonists both in single-agent settings as well as in combination with immune checkpoint inhibitors such as anti-PD-1 and anti-PD-L1.

"We are pleased to partner with Dracen and its founders from Johns Hopkins University," said Jonathan Leff, a partner with Deerfield Management. "We see great potential for Dracen's approach to deliver improved outcomes for cancer patients and potentially extend the benefits of immuno-oncology therapies."