Wednesday, April 24, 2024

Endeavor BioMedicines Gets $132.5M

San Diego-based biotechnology company Endeavor BioMedicine said this morning that it has raised $132.5M in the company's Series C financing. The company said the funding was led by AyurMaya, an affiliate of Matrix Capital Management, plus new investors including Fidelity Management & Research Company, Invus, SymBiosis, Velosity Capital, and Woodline Partners along with existing investors including funds managed by abrdn Inc. (formerly Tekla Capital Management LLC), Ally Bridge Group, Avidity Partners, Eckuity Capital, Longitude Capital, Omega Funds, Perceptive Advisors, Piper Heartland Healthcare Capital, Silver Arch Bio, and T. Rowe Price Associates. The company said the funding will go twards clinical development of its lead candidates, ENV-101 for fibrotic lung diseases including idiopathic pulmonary fibrosis, and ENV-501, a next-generation HER3-targeted antibody-drug conjugate, for solid tumors.