Wednesday, April 17, 2024
HomeFunding CA-based Avenzo Therapeutics, Inc Secures $150Million in Series A-1 Round Funding

[Funding alert] CA-based Avenzo Therapeutics, Inc Secures $150Million in Series A-1 Round Funding

Avenzo Therapeutics, Inc, a clinical-stage biotechnology company developing next generation oncology therapeutics secures $150million in series A-1 round funding.

Avenzo Therapeutics, Inc, a clinical-stage biotechnology company developing next generation oncology therapeutics secures $150million in series A-1 round funding.

With the participation of additional investors INCE Capital, TF Capital, Delos Capital, and Quan Capital, the round headed by additional Enterprise Associates (NEA), Deep Track Capital, Sofinnova Investments, and Sands Capital secured a total of $347 million in fundraising to far.

Jakob Dupont, M.D., Executive Partner, Private Equity, Sofinnova Investments, will join the Avenzo Board of Directors concurrently with the announcement.

With the money, the business hopes to expand its oncology pipeline, which is spearheaded by AVZO-021, a selective inhibitor of cyclin-dependent kinase 2 (CDK2) that may be the best in its class.

Read also – NYC-based Coast Secures $92Million in Funding

Founded in August 2022, Avenzo Therapeutics is a clinical-stage biotechnology firm headed by President and CEO Athena Countouriotis, M.D., with the goal of creating the next wave of oncology medicines for patients.

A unique, extremely powerful, and selective inhibitor of CDK2, a crucial enzyme involved in cell cycle regulation, is the company’s flagship therapeutic candidate, AVZO-021. In the US, AVZO-021 is being investigated as a therapy for advanced solid tumours in a Phase 1 research.

About Avenzo Therapeutics

Avenzo Therapeutics was founded by Drs. Athena Countouriotis and Mohammad Hirmand in 2022, a clinical-stage biotechnology business. The company is developing and expanding a pipeline of possibly best-in-class cancer treatments that aim to stop the abnormal cell growth that is the main cause of many malignancies by targeting cell cycle control.

Read also – TX-based Blockhouse Digital Secures $2Million in GP Funding

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