En­deav­or Bio­Med­i­cines snags $132M for Phase 2 fi­bro­sis drug, ADC can­di­date

San Diego biotech En­deav­or Bio­Med­i­cines is on a tear.

The start­up has se­cured a $132.5 mil­lion Se­ries C af­ter hir­ing four C-suite lead­ers, li­cens­ing an an­ti­body-drug con­ju­gate and re­veal­ing Phase 2a da­ta for its in­ves­ti­ga­tion­al id­io­path­ic pul­monary fi­bro­sis (IPF) med­i­cine in re­cent months.

“It was bet­ter than we prob­a­bly could have hoped for, rea­son­ably,” CEO John Hood said in an in­ter­view, re­fer­ring to the da­ta on IPF can­di­date ENV-101. “We orig­i­nal­ly were plan­ning on do­ing a lit­tle bit small­er round, but we had great de­mand and we had great in­vestors who want­ed to come in. So we scaled back about $250 [mil­lion] in de­mand to a $130 [mil­lion] round.”

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER