BRIEF: Deciphera bags a $52M round to back its cancer drug pipeline work
Waltham, MA-based Deciphera Therapeutics has been carefully tracking the early-stage progress it’s been making with its lead drug, a pan-KIT and PDGFR inhibitor dubbed DCC-2618. And this morning, the biotech announced that it has banked a $52 million C round to keep fueling its growing pipeline efforts.
Viking Global Investors, Redmile Group and Sphera Global Healthcare Fund led the round, joined by Deciphera’s existing investors including New Leaf Venture Partners.
“We are very pleased to have secured this Series C funding from an outstanding group of life science investors who recognize the potential of our clinical-stage pipeline of unique switch control kinase inhibitors,” said Deciphera CEO Michael Taylor in a statement. “The proceeds of this financing will be used to advance development of DCC-2618 and DCC-3014 into later-stage clinical trials with the goal of delivering new therapies that address key resistance mechanisms to improve cancer treatment outcomes.”