Acrivon Therapeutics disclosed a $130 million financing on April 9 that increased confidence in then-pending data for its lead asset, ACR-368 (prexasertib). ACR-368 is a selective small-molecule inhibitor targeting checkpoint kinase 1 (CHK1) and CHK2. The drug is undergoing testing in a potentially registrational phase II trial across multiple tumor types. The announced financing was presented in the context of those pivotal-readout expectations. The company’s program and this capital raise also affected competitive dynamics in the CHK1 inhibitor space. Specifically, the financing raised the stakes for rival Boundless Bio Inc., which is developing CHK1 inhibitor BBI-355. Acrivon leverages its Acrivon Predictive Precision Proteomics (AP3) platform to create drug-tailored OncoSignature® companion diagnostics that identify patients whose tumors are directly regulated by drug-relevant protein signaling. The company’s lead asset, ACR-368 (prexasertib), is a potent CHK1/2 inhibitor in Phase 2 that has shown durable single-agent activity, including complete responses, across multiple solid cancers and has been tested in over 1,000 patients. ACR-368 was in-licensed from Eli Lilly and has received orphan drug designation for anal cancer. Acrivon plans to advance ACR-368 and additional undisclosed pipeline programs with clinical trials that selectively enroll patients predicted to benefit by its OncoSignature® tests. The company intends to use the recently raised capital to support clinical development, expand headcount, and broaden its pipeline to realize the broader applicability of AP3. Acrivon also operates a phospho-proteomic and drug discovery hub in Lund, Sweden, collaborating with academic leaders in proteomics while maintaining operations in Watertown, Mass.

Total raised

$230M

Funding rounds

2

Latest round

Equity

Latest activity

Oct 2024