Big Pharma VC firms put $11M in seed funds behind cancer startup with bold vision
The venture arms of three Big Pharmas have jumped in to seed a Swiss cancer startup with a bold twist on targeted therapy that, the founders say, could have effects on virtually every type of cancer.
Novartis Ventures, Pfizer Ventures and Merck’s M Ventures, along with Omega and LSP, have seeded FoRx Therapeutics with €10 million ($11 million). The biotech, founded by synthetic biology pioneer Thanos Halazonetis, will look to target and disrupt a DNA repair mechanism he discovered several years ago and that, he said, almost all cancers rely on to proliferate.
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