Plex­i­um adds in­dus­try vet Mike Grey to the brain trust with new in­vestor cash fund­ing its pro­tein degra­da­tion play

About 15 months since clos­ing a $28 mil­lion Se­ries A, a San Diego pro­tein-degra­da­tion up­start re­turned to the ven­ture well Thurs­day with an ex­ten­sion of that round and some new hires, in­clud­ing one of the city’s best-con­nect­ed biotech ex­ecs.

Plex­i­um has bagged an ad­di­tion­al $35 mil­lion in fi­nanc­ing, the biotech said, mon­ey that will push undis­closed on­col­o­gy and im­muno-on­col­o­gy pro­grams in­to the clin­ic. In ad­di­tion, long­time in­dus­try vet Mike Grey is jump­ing on as chair­man of the board, and two oth­ers from Thurs­day’s leads — Adam Goul­burn from Lux Cap­i­tal and Rob Hopfn­er from Piv­otal bioVen­tures — joined the board too.

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