El­e­va­tion On­col­o­gy launch­es with $32.5 mil­lion Se­ries A, gives new life to for­mer Mer­ri­mack pro­gram

Al­most two years ago, Mer­ri­mack’s high-pro­file serib­an­tum­ab pro­gram flopped in a tri­al that at­tempt­ed to treat non-small cell lung can­cer in com­bi­na­tion with an­oth­er drug. Now, that pro­gram is get­ting a sec­ond chance.

El­e­va­tion On­col­o­gy an­nounced its launch Tues­day with $32.5 mil­lion in Se­ries A fund­ing and serib­an­tum­ab as its lead can­di­date. Rather than fo­cus­ing on NSCLCs like Mer­ri­mack, El­e­va­tion will aim to use the com­pound to treat sol­id tu­mors with the rare NRG1 ge­nom­ic fu­sion.

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