FLX Bio raises $29 million in Series A round
April 27, 2016 – SOUTH SAN FRANCISCO. FLX Bio, Inc., a biopharmaceutical company focused on the discovery and development of novel cancer immunotherapies, announced a $50 million Series B financing. The funds will be used to support further discovery and development of its pipeline of novel immuno-oncology compounds and to advance development of the company’s Phase 1 clinical compound, FLX925, a selective inhibitor of FLT3 and CDK4/6, in a proof-of-concept study in patients with acute myeloid leukemia. Including both Series A and Series B financing, the company has raised a total of $79 million.
The funding round included participation from leading biotechnology and corporate venture capital investors, including The Column Group (TCG), Topspin Partners, Kleiner Perkins Caufield & Byers (KPCB) and Celgene.
“We believe we have the opportunity to expand the treatment options for cancer patients by developing novel compounds focused on inhibiting the activity of regulatory T cells and myeloid cells, which are cells that are responsible for suppressing the immune system’s ability to kill cancer cells. We are pleased to have the support of such a renowned group of biotechnology investors, who share our excitement in this important work,” said Brian Wong, M.D., PhD., President and Chief Executive Officer.
Founded in 2015, FLX Bio Inc. is a privately-held biopharmaceutical company focused on the discovery, development and commercialization of novel immuno-oncology agents. The company leverages its unique insights in cancer biology and the immune system to discover and develop novel oral medicines that activate immune responses to eliminate cancer cells.
Source: FLX Bio