OUP returned for PMV's series C round which the company will use to cement its portfolio of small molecule treatments targeting cancerous p53 mutations.
US-based small molecule cancer therapy developer PMV Pharmaceuticals yesterday closed a $62m series C round backed by spinout-focused investment firm Osage University Partners.
Precision cancer medicine-focused investment firm Nextech Invest co-led the round alongside Viking Global Investors and Boxer Capital, with participation from Topspin Partners, Euclidean Capital, InterWest Partners, OrbiMed Advisors.
PMV Pharmaceuticals is working on small molecule compounds to treat cancerous mutations in the p53 protein, acknowledged as a factor in more than 50% of malignant tumours.
P53 is pivotal to the body’s innate oncological defences: by inducing an organised rotation of cellular death, the protein is able to modulate the supply of potentially cancerous cells.
The series C cash will go towards building up PMV’s asset base as the company prepares to bring drug candidates into the clinic. Thilo Schroeder, partner of Nextech Invest, will join the company’s board of directors.
Osage University…
