Enlibrium Finds $15M For Cancer Drugs

San Diego-based Enlibrium announced Thursday that it has raised $15M in a Series A financing, to go towards cancer therapeutics. The funding was led by Avalon Ventures and TPG Biotech, and also included Correlation Ventures and Osage University Partners. The startup said it is developing novel drugs based on the anti-cancer activity of metformin and designed to reduce cancer energy production to treat a range of cancer types. The company was founded by Dr. Michael Jung and Dr. Richard Pietras, both of whom are professors at the University of California, Los Angeles (UCLA). Enlibrium said the technology has been exclusively licensed from UCLA. Enlibrium is being led by David Campbell, Ph.D.