TwoStep raises $62.5M Series A for its twist on cancer ADCs
What's the deal? TwoStep TherapeuticsDealroom has a profile for this one. Try Dealroom → has raised a $62.5 million Series A to advance its cancer treatments toward the clinic. Pfizer VenturesDealroom has a profile for this one. Try Dealroom → and M VenturesDealroom has a profile for this one. Try Dealroom →, the venture arm of Merck KGaADealroom has a profile for this one. Try Dealroom →, backed the round.
What's the endgame? The startup is taking a different approach to antibody-drug conjugates (ADCs) and radioligands, two fast-growing fields in oncology. The new funding is aimed at moving its programme into clinical testing.
Why now? ADCs have become one of the most sought-after formats in cancer drug development, drawing heavy interest from large pharmaceutical companies. Backing from Pfizer and Merck KGaA's venture groups signals appetite among big players for novel takes on the technology.
The signal: At $62.5 million, the round lands in the 95th percentile of all US health Series A rounds on record — a sample of 5,904 deals. That scale underscores how much capital investors are willing to commit to differentiated oncology platforms before they reach the clinic.
Read more: endpoints.news
Image credit: TwoStep Therapeutics
