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Calithera raises $35m Series D from Adage Capital, existing backers

29 Oct 2013

cancer band pink_sqVenture capital firm Adage Capital Partners has led a $35m Series D round for biotech company Calithera Biosciences, which develops novel cancer therapeutics.

Longwood Fund and two other institutional investors also participated in the round, as did existing backers Morgenthaler Ventures, Advanced Technology Ventures and Delphi Ventures.

Calithera will use the proceeds for the development of its lead clinical-stage candidate CB-839 through Phase 1 clinical trials in patients with advanced solid and hematological tumors.

Longwood Fund partner and co-founder Christoph Westphal said, “The Calithera team possesses an impressive track record in discovering and developing successful oncology drugs.

“Calithera’s drug, CB-839, is an important new therapeutic candidate that has the pharmacological characteristics necessary to compete as a successful commercial oncology product.

“We look forward to CB-839 and additional innovative pipeline candidates entering clinical trials and making significant contributions to the advancement of cancer therapy.”

other biotech companies that have recently raised Series D rounds include German anti-cancer vaccine maker Immatics Biotechnologies.

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