Pfizer Ventures joined existing investors Ipsen and Leaps by Bayer and Pfizer Ventures in a round taking the oncology drug developer's overall funding to $174m.
Pyxis Oncology, a US-based cancer treatment developer utilising research from University of Chicago, has received $152m in a series B round featuring pharmaceutical firms Ipsen and Pfizer as well as pharmaceutical and chemical group Bayer.
Arix Bioscience and RTW Investments co-led the round, which was also backed by Perceptive Advisors, RA Capital Management, BVF Partners, Janus Henderson Investors, Cormorant Asset Management, HBM Healthcare Investments, Acuta Capital Partners, Ridgeback Capital Investments and Surveyor Capital.
The round was filled out by Laurion Capital Management, Logos Capital, LifeSci Venture Partners, funds managed by Tekla Capital Management and existing investors including Longwood Fund and Agent Capital, while Bayer and Pfizer invested through Leaps by Bayer and Pfizer Ventures respectively.
Pyxis is developing antibody-drug conjugates (ADCs) and immunotherapies for cancers that are difficult to treat. Its ADCs combine tumour-targeting antibodies with potent toxins to selectively kill cancer cells, while its immunotherapies harness the body’s immune system to fight cancer.
The company’s technology builds upon research led by Thomas Gajewski, a professor from the pathology and medicine departments at University of Chicago. John Flavin, former head of University of Chicago’s innovation and entrepreneurship programme, co-founded it with Gajewski.
Chris O’Donnell, partner at Pfizer Ventures, will join the Pyxis board of directors in connection with the round, as will Arix Bioscience managing director Christian Schetter and Gotham Makker, head of strategic investments for RTW Investments.
Pyxis had previously received $22m in a mid-2019 round led by Leaps by Bayer with investments from Ipsen, Longwood and Agent Capital.
