Seat­tle biotech found­ed by for­mer Seagen lead­ers nabs $112M for three clin­i­cal-stage AD­Cs

Pro­found­Bio will use a larg­er-than-planned Se­ries B to fi­nance three clin­i­cal-stage an­ti­body-drug con­ju­gates, in­clud­ing tak­ing its lead com­pound in­to a piv­otal study and help­ing ad­vance mul­ti­ple Phase I-stage drugs.

The Seat­tle biotech’s $112 mil­lion round, dis­closed Tues­day morn­ing, will back what has be­come one of the hottest ar­eas in on­col­o­gy on the promise of de­liv­er­ing tar­get­ed, pow­er­ful and po­ten­tial­ly safer can­cer-killing drugs.

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