ProfoundBio Closes $55 Million Round for ADC and IO Candidates

ProfoundBio, a Suzhou-Seattle oncology newco, closed a $55+ million Series A financing from China investors. The company will use the proceeds to advance its candidates from their ADC and immunoncology platforms into clinical trials. ProfoundBio's pipeline consists of eleven solid tumor-targeting drug candidates, currently in discovery and preclinical development. It plans to file several INDs next year. The round was led by Lilly Asia Venture and co-led by LYFE Capital, with participation from Sequoia Capital China and Oriza. More details.... Share this with colleagues: // //