Bright Peak secures $90 million in Series C financing
Bright Peak Therapeutics yesterday announced that it raised $90 million in a Series C financing, as the privately-held biotech looks to make a name for itself in the immunoconjugate space.
Proceeds from the financing will be used to advance BPT567 into a Phase I/IIa clinical trial and accelerate a pipeline of next-generation immunotherapies. BPT567 is a first-in-class PD1-IL18 immunoconjugate designed to provide simultaneous blockade of the PD(L)-1 checkpoint pathway and targeted delivery of interleukin (IL)-18 signaling.
The biotech, which has offices in both Switzerland and the US, claims BPT567 is the first immunoconjugate of its kind to enter the clinic.
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