Halda Therapeutics, a leading biotechnology firm renowned for its pioneering cancer therapies, has successfully raised $126 million in a Series B extension. This latest funding round saw significant participation from premier investors, including Deep Track Capital, Frazier Life Sciences, RA Capital Management, Vida Ventures, Boxer Capital, and Taiho Ventures. Existing backers such as Canaan Partners, Access Biotechnology, Elm Street Ventures, and Connecticut Innovations also contributed. This new infusion of capital elevates Halda’s total funding to $202 million.
The funding will expedite the advancement of Halda’s groundbreaking RIPTAC™ (Regulated Induced Proximity Targeting Chimeras) therapeutics into clinical trials. Specifically, the investment will support the initiation of a Phase 1 trial for the lead RIPTAC candidate, HLD-0915, targeting metastatic castration-resistant prostate cancer (mCRPC) slated for the first half of 2025. Additionally, the financing will facilitate the development of another RIPTAC therapeutic aimed at metastatic breast cancer.
Halda’s RIPTAC platform is distinguished by its innovative “hold and kill” mechanism, which effectively combats cancer cells by targeting two specific proteins—one associated with cancer and another crucial for cellular function. This dual-target approach not only aims to eliminate cancer cells but also spares healthy tissue, addressing a significant gap in current cancer treatments.
Dr. Kat Kayser-Bricker, Chief Scientific Officer at Halda Therapeutics, expressed enthusiasm about the new investment, stating, “We are thrilled to have the backing of such a prestigious group of investors who share our commitment to advancing cancer drug innovation. This funding will enable us to push forward with our oral, selective RIPTAC therapeutics, designed to overcome the drug resistance prevalent in many cancer treatments.”
Joe Cabral, Principal at Frazier Life Sciences, highlighted the critical need for novel cancer therapies: “RIPTAC therapies represent a significant leap forward, offering targeted cancer cell destruction through differential protein expression in an orally administered format. This advancement has the potential to improve outcomes for patients facing resistance to standard treatments.”
Arjun Goyal, MD, Co-Founder and Managing Director at Vida Ventures, underscored the transformative potential of Halda’s approach: “Halda’s RIPTAC therapeutics mark a new era in oncology, particularly with the mutation-agnostic potential of HLD-0915 for mCRPC. This innovative modality is poised to address urgent needs in cancer treatment globally.”
In conjunction with this funding, Rebecca Luse, Principal at Deep Track Capital, Joe Cabral, Principal at Frazier Life Sciences, Nandita Shangari, PhD, Managing Director at RA Capital Management, and Arjun Goyal, MD, Co-Founder and Managing Director at Vida Ventures, will join Halda’s Board of Directors.
Editorial Opinion:
Halda Therapeutics is at the forefront of a crucial evolution in cancer treatment with its RIPTAC platform, a testament to their commitment to innovation and precision medicine. The significant Series B extension not only underscores investor confidence but also highlights the growing recognition of Halda’s potential to redefine oncology.
The development of RIPTAC therapeutics could revolutionize how cancer is treated, particularly in cases where conventional therapies have faltered. By targeting specific cancer-associated proteins and essential cell functions, Halda’s approach offers a promising solution to the challenge of drug resistance. The ability to provide a mutation-agnostic therapy for mCRPC patients, in particular, stands out as a significant advancement that could offer new hope to those with limited options.
Moreover, Halda’s strategic focus on major solid tumors like prostate and breast cancer reflects a well-calibrated approach to addressing high unmet needs in oncology. The company’s innovative modality not only has the potential to extend survival and improve quality of life for patients but also positions Halda as a leader in the next generation of cancer therapies. With this robust funding and a clear path to clinical trials, Halda Therapeutics is well-positioned to make a profound impact on the future of cancer treatment.
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