OrbiMed-backed Prelude Therapeutics raises $60M to tackle resistance to cancer treatments
Back in 2016 Kris Vaddi left a 12-year career at Incyte to start his own effort diving into resistance mechanisms in cancer at Prelude Therapeutics. Three years later, he has a first program to show for it, as well as a $60 million Series B and two new recruits to the C-suite.
Co-led by OrbiMed and another unnamed existing investor, the B round will pay for clinical proof-of-concept studies of Prelude’s PRMT5 inhibitor. PRMT5, or protein arginine methyltransferase 5, is believed to play a central role in several pathways for cancer cell proliferation, cell cycle progression and resistance to apoptosis.
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