BAYRY - Cancer-focused Boundless Bio closes $100M funding led by Bayer RA Capital
2023-05-17 06:07:04 ET
- Precision oncology company Boundless Bio closed a $100M Series C financing co-led by Bayer's ( OTCPK:BAYRY ) ( OTCPK:BAYZF ) investment arm Leaps by Bayer, and RA Capital Management.
- There was also participation from additional new investors, Sectoral Asset Management and Piper Heartland Healthcare Capital and from existing investors Fidelity Management & Research Company, ARCH Venture Partners, Nextech Invest, and Wellington Management, among others.
- San Diego-based Boundless Bio, will use the funds to advance BBI-355 through clinical readouts from its ongoing phase 1/2 trial, dubbed POTENTIATE, in patients with oncogene-amplified cancers, the company added.
- "The ability to address oncogene amplified cancers has remained one of the industry’s greatest challenges in the treatment of cancer," said Juergen Eckhardt, EVP and Head of Leaps by Bayer.
- Bayer noted that BBI-355 is a checkpoint kinase 1 (CHK1) inhibitor and the first ecDNA-directed therapy (ecDTx) being evaluated to treat patients with oncogene amplified cancer.
- "We are excited to have Leaps by Bayer join our world-class investor syndicate and to welcome Fabio Pucci to our Board of Directors," commented Boundless Bio President and CEO Zachary Hornby.
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Cancer-focused Boundless Bio closes $100M funding led by Bayer, RA Capital