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.”
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