858 Therapeutics Announces $50 Million Series B Financing
Summary
As part of the financing, Monal Mehta, Ph.D., Managing Director at Avidity Partners, will join the companys Board of Directors.We are pleased to have strong backing from an elite group of life science investors, said Jeffrey Stafford, Ph.D., CEO of 858 Therapeutics. The Series B financing is a testament to the 858 team and the progress weve made across our portfolio, including the advancement of our PARG inhibitor ETX-19477 into the clinic. The companys lead asset, ETX-19477, is a potent and selective inhibitor of the DNA repair protein PARG and is currently being evaluated in patients with advanced solid tumors. The dose escalation portion of the study is preferentially enrolling patients with specific tumor types and genetic alterations that are likely to confer sensitivity to PARG inhibition. Its lead programs focus on important nodes in cancer biology, including DNA damage repair, innate immunity, and RNA epigenetics, and expands on decades of drug discovery experience by the founders.