Solstice Oncology Raises $225 Million Series A to Advance Cancer Therapy
Solstice Oncology has announced a $225 million Series A financing round. The funds will be used to advance the clinical development of its immuno-oncology therapy, porustobart.
Solstice Oncology, a partner company of Harbour BioMed, has closed a $225 million Series A financing round. The capital infusion is intended to accelerate the clinical development of the company's lead immuno-oncology therapy, porustobart.
Porustobart, a second-generation Fc-enhanced CTLA-4 antibody, is being advanced across two clinical indications in the neoadjuvant setting. This includes a Phase 2 trial in MSS stage II-III colon cancer, which is expected to open for enrollment early in the fourth quarter.
The financing comes amidst a competitive landscape for oncology drug development, where significant capital is required for extensive clinical trials and regulatory approvals. Companies like Solstice Oncology aim to bring novel therapies to patients with unmet needs.
Solstice Oncology stated that this substantial funding will bolster its capacity to advance porustobart through its development pipeline and potentially explore its efficacy in other cancer types and treatment settings.