Loxo Oncology focuses on developing targeted therapies for genetically defined cancers, with a lead TRK program asset, LOXO-101, in a Phase 1 dose-escalation trial. The company says the proceeds from its recent financing will strengthen its ability to advance LOXO-101 and expand its discovery pipeline. Loxo closed a $24 million Series B financing led by New Enterprise Associates, with participation from Aisling Capital and OrbiMed Advisors. In conjunction with the financing NEA’s M. James Barrett will join the board and NEA principal Sara Nayeem will join as an observer. The company also appointed Mikel Moyer, PhD, as chief scientific officer to lead discovery and preclinical efforts. Loxo was incorporated in Delaware in May 2013 and is based in Stamford, Conn. Loxo Oncology develops small-molecule oncology drugs aimed at genetically-defined patient populations and is committed to bringing targeted therapies rapidly into the clinic. The company intends to advance its lead product candidate through clinical proof of concept and to move a second program into the clinic. Loxo was incorporated in Delaware in May 2013 and was founded by Josh Bilenker, M.D., a partner at Aisling Capital. It entered a multi-year license and collaboration agreement with Array BioPharma in July 2013 to translate research insights into drug candidates. Loxo has formed a Board of Directors and expanded a Scientific Advisory Board with nationally recognized physician-scientists to advise on target selection, product profile definition and clinical development strategy. The recent financing will support pipeline advancement across multiple fronts.

Total raised

$57M

Funding rounds

2

Latest round

Series B

Latest activity

May 2014