US-based biotechnology company Halda Therapeutics has secured $126m in a Series B extension financing round to progress some of its cancer therapies into clinical trials.
The company’s Regulated Induced Proximity Targeting Chimeras (RIPTAC) therapies are designed to target major solid tumours such as prostate and breast cancer.
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The financing round increased Halda Therapeutics’ total funds raised to $202m, which the company will use to begin trials of two RIPTAC candidates.
It included contributions from new investors such as Frazier Life Sciences, Deep Track Capital and RA Capital Management, as well as existing investors Canaan Partners, Elm Street Ventures, Access Biotechnology and Connecticut Innovations.
Halda’s lead RIPTAC therapeutic, HLD-0915, is on track to enter a Phase I clinical trial in the first half of next year for metastatic, castration-resistant prostate cancer (mCRPC) patients.
The funding will also facilitate development of a second RIPTAC therapeutic for metastatic breast cancer, as well as enable Halda to expand its team and develop its RIPTAC platform to address new indications.
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By GlobalDataHalda Therapeutics chief scientific officer Kat Kayser-Bricker said: “This financing will enable us to bring to patients our oral, selective, and widely applicable cancer cell-killing mechanism that is designed to overcome drug resistance, which is a major shortcoming of many current standard of care cancer treatments.
“Our team of talented scientists has made tremendous progress, from inventing the RIPTAC modality to translating our platform into two promising programmes in prostate cancer and breast cancer, with our first drug candidate entering the clinic in the first half of 2025 for mCRPC patients.”
RIPTAC therapeutics follow a novel approach to cancer treatment that targets two proteins simultaneously, employing a ‘hold and kill’ mechanism.
This method brings a cancer-specific protein and an essential protein together, with the aim of disrupting vital cell functions and leading to the selective destruction of cancer cells while minimising harm to healthy tissue.
