Osage University Partners has returned to back the cancer and inflammatory drug developer based on research from multiple universities.
Ribon Therapeutics, a US-based oncology drug developer based on research at Massachusetts Institute of Technology (MIT), University of Texas (UT) Southwestern Medical Centre and Harvard University’s Harvard Medical School, has secured $65m in funding from investors including Osage University Partners (OUP).
Investment firm Deerfield Management and venture capital firm US Venture Partners (USVP) co-led the round, which also included corporates Alphabet, AbbVie, Bristol Myers Squibb, Johnson & Johnson, Novartis and Takeda.
Avego BioScience Capital, Monashee Investment Management, Peregrine Ventures and Column Group filled out the line-up.
GV, AbbVie Ventures, Johnson & Johnson Innovation – JJDC, Novartis Venture Fund and Takeda Ventures represented Alphabet, AbbVie, Johnson & Johnson, Novartis and Takeda respectively, while Bristol Myers Squibb invested directly.
Ribon is developing precision medicines utilising first-in-class small molecule inhibitors which halt cancer and inflammatory cells’ growth. The funding will be used to advance the clinical development of its lead drug candidates: cancer-focused RBN-2397 and the inflammation-targeted RBN-3143.
OUP backed a $65m series B round for Ribon disclosed when the latter emerged from stealth in early 2019. It also featured Deerfield Management and was led by Novartis Venture Fund.
Johnson & Johnson Innovation – JJDC, Takeda Ventures, pharmaceutical group Celgene, Column Group, Euclidean Capital and USVP completed the group of series B investors.
The company had previously raised approximately $43.5m from unnamed investors across rounds in 2016 and 2017, according to regulatory filings.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
Avego BioScience Capital, Monashee Investment Management, Peregrine Ventures and Column Group filled out the line-up.
GV, AbbVie Ventures, Johnson & Johnson Innovation – JJDC, Novartis Venture Fund and Takeda Ventures represented Alphabet, AbbVie, Johnson & Johnson, Novartis and Takeda respectively, while Bristol Myers Squibb invested directly.
Ribon is developing precision medicines utilising first-in-class small molecule inhibitors which halt cancer and inflammatory cells’ growth. The funding will be used to advance the clinical development of its lead drug candidates: cancer-focused RBN-2397 and the inflammation-targeted RBN-3143.
OUP backed a $65m series B round for Ribon disclosed when the latter emerged from stealth in early 2019. It also featured Deerfield Management and was led by Novartis Venture Fund.
Johnson & Johnson Innovation – JJDC, Takeda Ventures, pharmaceutical group Celgene, Column Group, Euclidean Capital and USVP completed the group of series B investors.
The company had previously raised approximately $43.5m from unnamed investors across rounds in 2016 and 2017, according to regulatory filings.
– A version of this article first appeared on our sister site, Global Corporate Venturing.
