Mersana Therapeutics is a Cambridge, MA‑based biotechnology company focused on discovering and developing a pipeline of antibody drug conjugates (ADCs). It is advancing a proprietary Fleximer® immunoconjugate platform under the leadership of President and CEO Anna Protopapas. The company completed a $33M Series C financing to support further development of its pipeline programs and to expand its ADC platform. The Series C was led by Wellington Management Company with participation from Cormorant Asset Management, Arrowpoint Partners, Takeda Pharmaceutical Company Limited and existing investors New Enterprise Associates and Rock Springs Capital. Mersana anticipated filing an IND for its lead candidate XMT-1522, a novel HER‑2 targeting therapy, in mid‑2016 and planned to initiate a Phase 1 proof‑of‑concept trial shortly thereafter. Its second program, XMT-1536, a novel anti‑NaPi2b ADC, was advancing into IND‑enabling studies. Mersana Therapeutics engineers next-generation Fleximer antibody-drug conjugates (ADCs) built on a proprietary biodegradable polymer system designed to increase drug loading and enable diverse payloads. Its Fleximer platform uses specialized linker systems and includes proprietary payload platforms named Dolaflexin, Vindeflexin, and Cytoflexin. The company is advancing a pipeline of Fleximer-ADCs with select pharmaceutical partners while progressing internal programs toward clinical development. Mersana announced a $35 million Series B-1 financing to fund advancement of its pipeline, with its first IND filing anticipated later this year. The financing coincided with management changes, including the appointment of Anna Protopapas as President and CEO and the addition of Elaine V. Jones to the board. Mersana is based in Cambridge, Mass. Mersana Therapeutics, led by President and CEO Nicholas Bacopoulos, Ph.D., develops an antibody‑drug conjugate (ADC) platform called Fleximer® and a pipeline of small molecule conjugates. The Fleximer® platform enables attachment and controlled release of a broad range of anti‑tumor payloads. The company is advancing two small molecule conjugates: XMT-1001, a novel “tecan” conjugate in a Phase 1b extension trial in patients with lung cancers, and XMT-1107, an anti‑angiogenic conjugate in a Phase 1 trial in patients with refractory, advanced solid tumors. XMT-1107 was licensed to Teva Pharmaceutical Industries Ltd. on a worldwide basis except for Japan, where Mersana retained rights. Mersana intends to use the financing proceeds to advance its ADC technology and to generate a pipeline of proprietary next‑generation ADCs. The company recently raised capital to support continued clinical development of its lead candidates.

Total raised

$95M

Funding rounds

3

Latest round

Series C

Latest activity

Jun 2016