SAN DIEGO, May 20, 2021 /PRNewswire/ — BioTheryX, Inc., a clinical-stage company focused on degrading proteins to create life-saving cancer medicines, today announced a $92 million Series E financing led by Farallon Capital Management, with participation from additional new investors Avidity Partners, Deep Track Capital, Irving Investors, Janus Henderson Investors, Lumira Ventures, Point72, Rock Springs Capital, Surveyor Capital, Tekla Capital Management, Alexandria Venture Investors and Wedbush Healthcare Partners, and existing investors.
The proceeds from the financing will be used to advance multiple molecular glues, PHM-based PROTACs and monovalent degraders, including BTX-1188, toward clinical development. BioTheryX also plans to advance the clinical development of its lead multi-kinase inhibitor, BTX-A51, for the treatment of acute myeloid leukemia, myelodysplastic syndromes and solid tumors.
“We are pleased to have the support of an elite group of investors who share BioTheryX’s vision of realizing the promise of targeted protein degradation and delivering benefit to patients,” said Robert Williamson, President and CEO of BioTheryX. “With this financing, we are well positioned to execute our plans to bring our first molecular glue program BTX-1188 into the clinic by the end of 2021, expand our platform of molecular glues, PROTACs and monovalent degraders and progress our lead program BTX-A51 through Phase 1.”