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[Marketwatch] NextCure Raises $93 Million in Series B Financing

작성자
Juhee Kim Juhee Kim
작성일
2018-11-20 14:44
조회
626
원본기사주소↓ (Nov 13th, 2018)
https://www.marketwatch.com/press-release/nextcure-raises-93-million-in-series-b-financing-2018-11-13



NextCure Inc., a privately-held biopharmaceutical company discovering anddeveloping the next generation of immunomedicines for cancer and otherdiseases, today announced the completion of a $93 million series Bequity financing. The financing was led by Hillhouse Capital Managementand Quan Capital, and included Bay City Capital, Surveyor Capital (aCitadel company), Ping An Ventures, Taiho Ventures LLC, ArrowMarkPartners and NS Investment. All existing investors also participated inthis financing, including Canaan Partners, Lilly Asia Ventures, OrbiMedAdvisors LLC, Pfizer Inc., Sofinnova Ventures and Alexandria VentureInvestments. Additionally, Eli Lilly and Company invested $15 million inthis financing in conjunction with the discovery and developmentpartnership announced on November 5, 2018.


In connection with the financing, Michael Yi, M.B.A., (Hillhouse CapitalManagement) and Stella Xu, Ph.D., (Quan Capital) will join the board of directors.


The proceeds will be primarily used to support clinical development forthe company’s two lead drug candidates, including NC318, preclinicaldevelopment of additional novel immunomedicine drug candidates, and theCompany’s activities under its previously announced collaboration withEli Lilly and Company to discover and develop novel cancer targets withthe Company’s proprietary FIND-IO™ platform.


“We are excited to welcome a distinguished group of new investors toNextCure and appreciate the strong support from our existing investors,” said Michael Richman, NextCure’s President & CEO. “We have madetremendous progress in the past 2.5 years, and look forward to thecontinued clinical development of NC318 and advancement of our growingportfolio of first-in-class immunomedicines.”


[About NC318]

NC318 is a first-in-class immunomedicine againsta novel immunomodulatory target found on a restricted set of myeloidcells in the tumor microenvironment and on certain tumor types includinglung, ovarian and head and neck cancers. Preclinical research shows thatS15 promotes the survival and differentiation of suppressive myeloidcells and negatively regulates T cell function, allowing cancer growth.In preclinical studies, NC318 blocks the negative effects of S15. NC318is a first-in-class immunomedicine that has the potential to treatmultiple cancer types.


[About FIND-IO™]

The FIND-IO™ platform is designed to identifynovel cell surface molecular interactions that drive functional immuneresponses in the tumor microenvironment and other disease sites.NextCure has developed proprietary approaches to assess immune pathwaysin primary immune cells and established cell lines from immune lineages,including T cells, NK cells, macrophages, myeloid-derived suppressorcells, dendritic cells, as well as cancer cells. NextCure is utilizingFIND-IO™ technology to identify targets that impact immune function,addressing the major challenge of supplying next generationimmunomedicines for patients that do not respond to current cancertherapies.


[About NextCure]

NextCure is a biopharmaceutical companyfocused on discovering and developing next generation first-in-classimmunomedicines for cancer and other diseases. Our novel FIND-IO™discovery technology identifies targets based on immunomodulatoryfunction and on which the company is building a proprietary pipeline ofimmunomedicines. Our initial focus is to bring hope and new treatmentsto patients who do not respond to current cancer therapies.


[NextCure Cautionary Statement Regarding Forward-Looking Statements]

Statements made in this press release that are not historical facts are forward-looking statements. Words such as "expects," "believes," "intends," and similar expressions are intended to identify forward-looking statements. Actual results may differ materially from those projected in any forward-looking statement. Specifically, there are a number of important factors that could cause actual results to differ materially from those anticipated, such as NextCure’s ability to raise additional capital, and risks related to NextCure’s ability to initiate, and enroll patients in, planned clinical trials. Further, there can be no assurance of the results of any clinical trial with NC318. You should not place undue reliance on any forward-looking statements. NextCure assumes no obligation to update any forward-looking statements.