A next-gen IL-2 chal­lenger bags a megaround with RA Cap­i­tal on board to ac­cel­er­ate 'mod­u­lar' drug plat­form

Crack­ing the IL-2 puz­zle box has been a point of con­tention in biotech for years as drug de­vel­op­ers look to beat a slate of se­ri­ous side ef­fects. An­oth­er play­er in that ef­fort has piqued the in­ter­est of in­vestors and is now flush with cash to take the next step in­to hu­man stud­ies.

Ash­er Bio­ther­a­peu­tics closed a $108 mil­lion Se­ries B led by Welling­ton Man­age­ment Com­pa­ny with biotech blue-chip­per RA Cap­i­tal al­so on board to ad­vance its lead “cis-tar­get­ed” IL-2 drug through the clin­ic with more from its “mod­u­lar” plat­form geared up for tri­als, the biotech said Wednes­day.

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