Pelo­ton rais­es a mon­ster $150M in lat­est round, as lead drug heads for piv­otal tri­al

Less than two years af­ter rais­ing $22 mil­lion in a D round, Dal­las-based Pelo­ton Ther­a­peu­tics has reaped a fresh $150 mil­lion E round, eclips­ing the cap­i­tal the com­pa­ny has raised in to­tal from each pre­ced­ing raise.

The biotech, found­ed by UT South­west­ern bio­chem­istry chair­man Steven McK­night, got start­ed in 2011 with an $18 mil­lion round. The mon­ey from this new haul — which was led by RA Cap­i­tal — will be used to de­vel­op the com­pa­ny’s lead com­pound PT2977. The drug tar­gets hy­pox­ia in­ducible fac­tor-2α (HIF-2α), a tran­scrip­tion fac­tor in­volved in can­cer pro­gres­sion, and it’s be­ing read­ied for a Phase III in pa­tients with clear cell re­nal cell car­ci­no­ma.

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