Takeda Ventures and Chiesi Ventures are set to exit the cancer drug developer through the deal, which came after just over $200m in funding.
Pharmaceutical firm Merck & Co agreed yesterday to acquire oncology therapy developer VelosBio for $2.75bn in cash, enabling pharmaceutical companies Chiesi and Takeda, to exit.
Founded in 2017, VelosBio is working on cancer drugs targeted at a type of protein known as the tyrosine kinase-like orphan receptor 1.
The company’s lead product candidate, VLS-101, is an antibody-drug conjugate in a phase 1 clinical trial for haematologic malignancies and a phase 2 trial for solid tumours. It had secured $202m in…
