Rare Daily Staff
Aura Biosciences, which is developing a new class of therapies to target and selectively destroy cancer cells using viral nanoparticle conjugates, said it closed a $30 million series C financing.
New investors Lundbeckfonden Ventures and Arix Bioscience led the round, with all current investors also participating. Existing investors include Advent Life Sciences, Chiesi Ventures, Ysios Capital, Alexandria Venture Investments, Columbus Venture Partners, LI-COR Biosciences and several individual investors, including the estate of Henri Termeer.
In November, Aura released positive interim data at the American Academy of Ophthalmology 2017 Annual Meeting for its phase 1b/2 clinical trial for light-activated AU-011, the first targeted therapy ever to be developed for the primary treatment of ocular melanoma, a rare and aggressive life-threatening eye cancer. Aura said the novel therapy has the potential to selectively destroy cancer cells in the eye while preserving vision.
The company plans to use proceeds from the round of financing to expand infrastructure supporting ongoing clinical development.
“The Aura team has proven nimble while retaining a strong scientific rigor as it has made the transition to a clinical-stage company,” said Casper Breum, Senior Partner at Lundbeckfonden Ventures.
“We believe that this timely investment will propel the company’s preparations for late-stage studies of AU-011, with the potential to provide a safe and effective therapy where plaque radiation or enucleation are the only options currently,” said Mark Chin, Investment Director at Arix Bioscience.
December 21, 2017