Simcha Therapeutics, a New Haven-based biotech focused on fighting cancer, announced Thursday it has raised $40 million in a Series B financing round.
SR One Capital Management led the round, joined by investors BVF Partners, Samsara BioCapital, Rock Springs Capital, ArrowMark Partners and Logos Capital.
Dr. Aaron Ring, an assistant professor of immunobiology at the Yale School of Medicine who founded the company in 2018, said, “The Series B comes at a pivotal time in Simcha’s development as we have transitioned to a clinical-stage company and continue to build our leadership team.”
Ring characterized the investments as a “major endorsement” of the company’s progress and potential.
The money raised will help with the advancement of the company’s anti-cancer drug candidate, ST-067, through Phase 2 clinical trials, according to the company. It will also help with building its leadership team.
In 2020, the company raised $25 million in a Series A financing.
The company also announced that Dr. Simeon George, CEO of SR One Capital Management, has joined Simcha’s board of directors.
Simcha is developing cytokine-based cancer immunotherapies. Cytokines are proteins involved in the communication of cells. This week, Simcha announced it has dosed its first patient in a Phase 1/2 clinical trial of ST-067. Researchers are evaluating its safety and effectiveness in treating solid tumors. A Phase 1 clinical trial started in 2021.
Simcha described ST-067 as a designer IL-18 cytokine, and indicated that it has shown “potent antitumor effects” in animals.
According to George, Simcha is developing unique drugs that are “completely unlike any other immunotherapeutic agent in development.”
“We are proud to support the company in advancing this extremely promising agent for cancer patients,” George said.
Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com.
