Bright Peak Therapeutics Secures $90 Million to Revolutionize Cancer Treatment
June 15, 2024, 9:34 pm
Location: Switzerland, Basel-City, Basel
Employees: 11-50
Founded date: 2017
Total raised: $197M
Bright Peak Therapeutics, a biotech startup specializing in cutting-edge immunotherapies, has secured a whopping $90 million in Series C funding. This significant investment will propel the development of their groundbreaking PD1-IL18 immunoconjugate program, aimed at transforming the landscape of cancer treatment.
The financing round, led by Johnson & Johnson Innovation JJDC, along with new investors Venrock, KB Investment, and Northleaf Capital Partners, marks a major milestone for Bright Peak Therapeutics. Returning investors, including Versant Ventures, Fidelity Management & Research Company, RA Capital Management, Qatar Investment Authority, Invus, and Alexandria Venture Investments, have also shown their continued support.
The funds from the Series C round will fuel the development of new immunotherapy treatments and kickstart clinical trials for BPT567—a novel drug designed to enhance the immune system's ability to combat cancer. In preclinical studies, BPT567 demonstrated potent anti-tumor effects by blocking PD-1 and harnessing the inflammatory power of IL-18 to target T cells within the tumor microenvironment, while minimizing activation of immune cells elsewhere in the body.
Bright Peak Therapeutics, recognized as one of the TOP 100 Swiss Startups in 2022, is at the forefront of innovation in the field of cancer therapeutics. With a focus on next-generation engineered cytokines for immuno-oncology indications, Bright Peak is poised to revolutionize cancer treatment and bring new hope to patients battling this devastating disease.
The financing round, led by Johnson & Johnson Innovation JJDC, along with new investors Venrock, KB Investment, and Northleaf Capital Partners, marks a major milestone for Bright Peak Therapeutics. Returning investors, including Versant Ventures, Fidelity Management & Research Company, RA Capital Management, Qatar Investment Authority, Invus, and Alexandria Venture Investments, have also shown their continued support.
The funds from the Series C round will fuel the development of new immunotherapy treatments and kickstart clinical trials for BPT567—a novel drug designed to enhance the immune system's ability to combat cancer. In preclinical studies, BPT567 demonstrated potent anti-tumor effects by blocking PD-1 and harnessing the inflammatory power of IL-18 to target T cells within the tumor microenvironment, while minimizing activation of immune cells elsewhere in the body.
Bright Peak Therapeutics, recognized as one of the TOP 100 Swiss Startups in 2022, is at the forefront of innovation in the field of cancer therapeutics. With a focus on next-generation engineered cytokines for immuno-oncology indications, Bright Peak is poised to revolutionize cancer treatment and bring new hope to patients battling this devastating disease.