A new ADC biotech looks to re­vive se­cre­tive plat­form, se­cures Big VC back­ing

With many com­pa­nies work­ing with an­ti­body-drug con­ju­gates in can­cer, the newest one has two sub­stan­tial back­ers and is look­ing to re­vi­tal­ize an old plat­form.

The UK out­fit, un­veiled ear­ly Wednes­day morn­ing, is called Pheon Ther­a­peu­tics. The biotech’s stat­ed goal is go­ing af­ter can­cer and it is armed with $68 mil­lion, thanks to a Se­ries A led by For­bion, At­las Ven­ture and Bran­don Cap­i­tal a few months ago. Seed in­vestor Re­search Cor­po­ra­tion Tech­nolo­gies al­so par­tic­i­pat­ed, per a Pheon state­ment.

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