John Hood, Endeavor BioMedicines CEO

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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