MIT spinout Ribon Therapeutics, which remains in stealth mode, has been revealed to have secured $10m in funding.

Ribon Therapeutics, a biotechnology spinout from MIT that is working on cancer treatments, raised $10m in December 2015, according to Xconomy.

Ribon Therapeutics was established in 2015 by Paul Chang, a former assistant professor at MIT, Lee Kraus, who works at the University of Texas Southwestern Medical Center, and Tim Mitchison, professor at Harvard Medical School.

Ribon’s approach relies on Parp inhibitors as potential therapies for some types of cancer that are more dependent on the Parp1 protein than regular cells. By inhibiting this protein, cancer cells could potentially be treated without harming normal cells.

Ribon Therapeutics currently remains in stealth mode, hence no further information is available about its investors or what it intends to do with the funding. A regulatory filing reveals however that the company is targeting a $21m close for the round.