Biologics developer Pyxis Oncology announced today that it closed a Series B financing round worth $152 million.
Cambridge, Mass.-based Pyxis had its financing round co-led by Arix Bioscience and RTW Investments. Existing investors including Leaps by Bayer, Longwood Fund, Agent Capital and Ipsen also contributed to the $152 million, which brings Pyxis’ total funding to date to $174 million, according to a news release.
New investors, including Perceptive Advisors, RA Capital Management, Pfizer Ventures, BVF Partners, Janus Henderson Investors, Cormorant Asset Management, HBM Healthcare Investments, funds managed by Tekla Capital Management, Acuta Capital Partners, Ridgeback Capital Investments, Surveyor Capital, Laurion Capital Management, Logos Capital and LifeSci Venture Partners also participated in the financing round.
Pyxis plans to use the proceeds to advance its portfolio of antibody-drug conjugates (ADCs) that deliver highly potent targeted treatments directly to cancer cells. The company’s PYX-201 and PYX-203 therapeutics are both in-licensed from Pfizer, while PYX-202 is in-licensed by LegoChem Biosciences.
In conjunction with the funding, Arix Bioscience managing director Christian Schetter, RTW Investments head of strategic investments Dr. Gotham Makker and Pfizer Ventures partner Chris O’Donnell will join Pyxis’ board of directors.
“We are grateful for the support of these highly sophisticated investors as we strive to improve the lives of patients with difficult-to-treat cancers by progressing a diverse portfolio of potentially groundbreaking ADCs and immunotherapies,” Pyxis CEO Dr. Lara Sullivan said in the release. “This financing strengthens our ability to build a differentiated portfolio of biologics and allows us to accelerate our efforts to advance multiple promising programs into Phase 1 clinical trials.”