Grid Therapeutics, a US-based oncology-focused spinout from Duke University, has closed a series A round of undisclosed size from investors including the institution’s TTO, Office of Licensing and Ventures.
The round was led by venture capital firm Longview International.
Grid Therapeutics has developed technology to obtain antibodies capable of killing early-stage cancer tumours. The antibodies, which have displayed no side effects so far, are held within a patient’s own single B cells, a variety of the white blood cell which forms part of the immune system.
A team led by Edward Patz, professor of radiology, pathology, pharmacology and cancer biology, developed the technique at Duke University Medical Centre.
The series A capital will help produce the antibodies. Grid’s lead asset, a separate system called GT103 designed to treat advanced stage tumours, will also receive funding ahead of a phase 1 clinical trial scheduled for early 2019.
Jianli Wang, of Longview International, said: “Grid’s development program capitalised on the innovative thinking and wealth of oncology experience possessed by the company’s management team.
“Longview recognises the enormous potential of the new therapeutic candidates being developed by Grid.”
