NextPoint Therapeutics announced today the closing of a $42.5M Extension to its Series B financing round resulting in a total of $122.5M raised in the Series B financing.
Total of $122.5M Series B funding includes $42.5M Extension from new and existing investors
Financing propels company to transform the potential of immunotherapy into precision oncology by leveraging HHLA2/B7-H7 for both immunomodulation and direct tumor-targeting
CAMBRIDGE, Mass.--(BUSINESS WIRE)-- NextPoint Therapeutics, a clinical-stage biotechnology company developing a new class of precision oncology therapeutics targeting the novel HHLA2 pathway, announced today the closing of a $42.5M Extension to its Series B financing round resulting in a total of $122.5M raised in the Series B financing. The funds will be used to advance the company’s two immuno-oncology clinical programs, NPX267 and NPX887, as well as propel the development of additional therapeutic modalities in the pipeline that target the novel HHLA2 tumor antigen.
The Extension was led by existing investor Catalio Capital Management, and as part of the financing, R. Jacob Vogelstein, PhD, has joined the NextPoint Board of Directors. Catalio is joined by other existing investors including MPM BioImpact, Leaps by Bayer, Sanofi Ventures, Invus, Sixty Degree Capital, Dana-Farber Cancer Institute’s Binney Street Capital and NextPoint founder Gordon Freeman, PhD. Along with Catalio, new investors Arkin Bio-Capital and WTT investment Ltd were the largest participants in this fundraising.
“Catalio is committed to investing in the next generation of category-defining life sciences companies and NextPoint’s mission of delivering groundbreaking new options to more patients with cancer strongly resonates with our own,” said R. Jacob Vogelstein, PhD, Co-Founder & Managing Partner of Catalio Capital Management. “We are delighted to support the company’s pipeline growth and advancement and look forward to being a strong partner for the future.”
“This financing strategically expands NextPoint’s group of high-quality investors and further transforms the company’s innovative pipeline to progress monotherapy treatments with a novel clinical biomarker,” commented Detlev Biniszkiewicz, PhD, Chairman of NextPoint’s Board of Directors. “We are excited to reshape immunotherapy into precision oncology and give hope to patients living with cancer.”
“This new round of financing underscores the support and confidence of our premier syndicate of investors, and we are well positioned to build upon our growing pipeline of multi-modal therapeutics targeting the novel HHLA2 pathway,” said Ivan Cheung, CEO of NextPoint. “We are advancing a diverse set of assets into clinical trials to exploit HHLA2’s role as both a novel immune checkpoint and a tumor-targeting mechanism. We are thrilled to pioneer a new class of monotherapies to treat both hot and cold tumors.”
About NextPoint Therapeutics
NextPoint is advancing the field of immuno-oncology through its leading scientific work on the novel HHLA2 axis, also known as B7-H7. Our innovative approach integrates foundational science with a defined clinical biomarker strategy to deliver a new class of monotherapies for patients who do not benefit from PD-1/L1 inhibitors. NextPoint is simultaneously advancing therapeutic approaches utilizing the unique upregulation of HHLA2 in cancer as an anchor for tumor-targeting therapeutic modalities. Our team of proven drug developers is working closely with our renowned scientific founders to launch a new world of precision immuno-oncology and beyond. To learn more, visit nextpointtx.com.
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Source: NextPoint Therapeutics
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