NextPoint Therapeutics – a clinical-stage biotechnology company developing a new class of precision oncology therapeutics targeting the novel HHLA2 pathway – announced the closing of a $42.5 million Extension to its Series B financing round resulting in a total of $122.5 million raised in the Series B financing.
The funding will advance the company’s two immuno-oncology clinical programs, NPX267 and NPX887, and propel the development of additional therapeutic modalities in the pipeline that target the novel HHLA2 tumor antigen.
This Extension was led by existing investor Catalio Capital Management, and as part of the financing, R. Jacob Vogelstein, PhD, has joined the NextPoint Board of Directors. And Catalio is joined by other existing investors including MPM BioImpact, Leaps by Bayer, Sanofi Ventures, Invus, Sixty Degree Capital, Dana-Farber Cancer Institute’s Binney Street Capital and NextPoint founder Gordon Freeman, PhD. Along with Catalio, the new investors Arkin Bio-Capital and WTT investment Ltd were the largest participants in this fundraising.
KEY QUOTES:
“Catalio is committed to investing in the next generation of category-defining life sciences companies and NextPoint’s mission of delivering groundbreaking new options to more patients with cancer strongly resonates with our own. We are delighted to support the company’s pipeline growth and advancement and look forward to being a strong partner for the future.”
- Jacob Vogelstein, PhD, Co-Founder & Managing Partner of Catalio Capital Management
“This financing strategically expands NextPoint’s group of high-quality investors and further transforms the company’s innovative pipeline to progress monotherapy treatments with a novel clinical biomarker. We are excited to reshape immunotherapy into precision oncology and give hope to patients living with cancer.”
- Detlev Biniszkiewicz, PhD, Chairman of NextPoint’s Board of Directors
“This new round of financing underscores the support and confidence of our premier syndicate of investors, and we are well positioned to build upon our growing pipeline of multi-modal therapeutics targeting the novel HHLA2 pathway. We are advancing a diverse set of assets into clinical trials to exploit HHLA2’s role as both a novel immune checkpoint and a tumor-targeting mechanism. We are thrilled to pioneer a new class of monotherapies to treat both hot and cold tumors.”
- Ivan Cheung, CEO of NextPoint
