BioClin scores a $30M raise from marquee investors to fuel mid-stage work on a new cancer drug
BioClin Therapeutics has rounded up a fresh load of cash to fuel some mid-stage trial work on its lead — and currently sole — cancer drug in the clinic. The San Ramon, CA-based biotech says it gathered $30 million for its Series B, bringing the total raised to date to $59 million.
BioClin is in a Phase Ib/II study of its FGFR3 receptor drug B-701 combined with docetaxel for Stage IV bladder cancer. It’s also prepping a similar stage trial of the same drug combined with Roche’s checkpoint Tecentriq (atezolizumab). This particular fibroblast growth factor receptor 3 protein has been linked repeatedly with tumor growth.
BioClin has next to no public profile, evidently preferring to stay out of the news.
That didn’t stop some blue chip investors from kicking in in the round, though. Sofinnova Ventures and Ysios Capital led the round, which included existing investors HealthCap, Life Sciences Partners and Tekla Capital Management.
“Over the past couple years, there has been significant scientific advancement and understanding of FGFR3 biology and bladder cancer, both for FGFR3 itself as a possible driver for metastatic bladder cancer, as well as its potential role in tumor inflammation. We are very enthusiastic about the B-701 program and its potential for enhancing the treatment effects of checkpoint inhibitors,” said Joël Jean-Mairet of Ysios Capital.