Proteolix raises $79M for cancer treatment
Proteolix, which is developing drugs to treat cancer by disrupting key cell functions, has raised $79 million in a third round of funding, according to VentureWire. That’s the third largest biotech funding this year.
Nomura Phase4 Ventures, a new investor, led the round, with participation from new backer Westfield Capital Management and existing investors Advanced Technology Ventures, Delphi Ventures, Latterell Venture Partners, U.S. Venture Partners and Vertical Group.
The new funding should allow South San Francisco-based Proteolix to conduct Phase II and Phase III clincial trials of its lead drug, Carfilzomib.
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About the Author, Anthony Ha
Anthony is VentureBeat's assistant editor, as well as its reporter on enterprise technology, cloud computing, and tech policy. Before joining VentureBeat in 2008, Anthony worked at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing. He attended Stanford University and now lives in San Francisco. Reach him at anthony@venturebeat.com. You can also follow Anthony on Twitter.