Firefly Bio debuts with $94 million Series A financing
California, USA-based Firefly Bio emerged from stealth mode on Friday with a $94 million Series A financing co-led by founding investor Versant Ventures and by MPM BioImpact alongside Decheng Capital and with participation from Eli Lilly (NYSE: LLY).
Firefly, which was founded in 2020, has developed a novel platform to treat cancer using degrader antibody conjugates (DACs), an area that has recently become ever more attractive for licensing and M&A deals.
Firefly was incubated in close collaboration with scientists at Versant’s Ridgeline Discovery Engine in the Basel Technology Park. These efforts helped the company rapidly establish proof-of-concept and advance its lead asset.
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