Osage University Partners has taken part in a series B round for PMV Pharmaceuticals.
PMV Pharmaceuticals, a US-based developer of small molecule drugs for the treatment of cancer, has raised a $74m series B round from a syndicate including Osage University Partners, a spinout-focused investment firm.
The round was led by VC firm Topspin Biotech Fund and included peers Euclidean Capital, InterWest Partners, and OrbiMed Advisors.
The capital will be used to develop and advance into the clinic the company’s pipeline of mutant p53 restoration drug candidates. Cancer cells often have mutations in p53 that enable them to escape death.
PMV’s unique mechanism of action promises to restore p53 to its normal function, eliminating this escape route and selectively killing the mutant cancer cells without affecting normal tissues.
PMV raised $30m in its series A round in 2014 from Osage, InterWest Partners, and OrbiMed Advisors.
The company was co-founded by Arnold Levine, one of the discoverers of the p53 protein and a professor emeritus at the Simons Center for Systems Biology at the Institute for Advanced Study.
