For­mer Blue­print vets take their new biotech out of stealth, with STAT3 in their sights

A new biotech go­ing af­ter STAT mu­ta­tions through a pre­vi­ous­ly un­drug­gable tar­get emerged from stealth and se­cured its first fundraise Mon­day, in­tro­duc­ing its fresh­ly mint­ed CEO in the process.

Re­cludix Phar­ma, a San Diego biotech launched by a found­ing team of Blue­print Med­i­cines vets, pulled in a $60 mil­lion Se­ries A on Mon­day, promis­ing in­vestors a path to the holy grail STAT3 mu­ta­tion through what’s called the SH2 do­main. Tak­ing over as chief ex­ec­u­tive is Nan­cy Whit­ing, ar­riv­ing af­ter a 15-year run at Seagen that saw her run cor­po­rate strat­e­gy and late-stage de­vel­op­ment at var­i­ous points.

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