Existing backers Takeda, Deerfield and Bay City Capital have provided $10m to help progress research from multiple institutions.
Bridge Medicines, a US-based drug discovery company exploiting research from Memorial Sloan Kettering Cancer Center, Rockefeller University and Weill Cornell Medicine, has secured $10m from existing shareholders.
Pharmaceutical firm Takeda and investment firms Deerfield Management and Bay City Capital provided the capital.
Launched in 2016, Bridge Medicines aims to catalyse clinical drug candidates based on discovery-stage research from Tri-Institutional Therapeutics Discovery (Tri-I TDI), a partnership of the spinout’s founding institutions.
Tri-I TDI collaborates with Takeda, Deerfield Management and Bay City Capital, which all helped to set up Bridge Medicines.
Bridge Medicines is working on treatments for acute forms of leukaemia in addition to inflammatory disorders including hereditary angioedema, a rare and potentially fatal genetic condition that causes swelling in the lining of the gut and lungs.
The company is also in talks to license additional assets from its founding partners. It described the $10m sum…
