The Venture Codex

Participated · Series B · Jan 2026

Primmune Therapeutics is a clinical-stage therapeutics company focused on designing and developing systemically acting, orally delivered small-molecule toll-like receptor 7 (TLR7) agonists. Its lead candidate, PRTX007, aims to stimulate the innate immune system and is being advanced for cancers and other diseases that respond to immunotherapy. The company plans to launch Study PRTX007-003, a Phase 2 neoadjuvant efficacy trial evaluating PRTX007 in combination with standard-of-care anti-PD-1 therapy for patients with Stage III resectable melanoma. Primmune’s approach could provide a convenient oral alternative to existing injectable immunotherapies. To date, the firm has raised at least $23.3 million in Series B funding, including the latest $8.6 million tranche. These funds will support the upcoming Phase 2 trial and continued development of its TLR7 agonist platform.

Led · Debt Financing · Jan 2025

Verastem is advancing an investigational combination of avutometinib plus defactinib for recurrent KRAS mutant low-grade serous ovarian cancer (LGSOC). The company is preparing commercialization activities in anticipation of potential U.S. FDA approval, with a planned launch targeted for mid-2025. Verastem announced a strategic collaboration with IQVIA to leverage commercialization infrastructure and launch capabilities while retaining strategic oversight. Financially, the company secured a new note purchase credit facility for up to $150 million and an equity investment of $7.5 million from Oberland Capital Management. A portion of the proceeds will be used to fully repay and terminate an existing $42.7 million loan with Oxford Finance. Management cites the financing and IQVIA partnership as positioning the company to create commercial revenue to support its pipeline. Verastem is a private biopharmaceutical company focused on discovering and developing drugs to treat breast and other cancers by targeting cancer stem cells. The company aims to target cancer stem cells and the epithelial-to-mesenchymal transition (EMT) to address tumor recurrence, metastasis and difficult-to-treat cancers such as triple-negative breast cancer. Its pipeline includes drug candidates designed to translate cancer stem cell research into new medicines, with the first candidate projected to enter the clinic in 2012. Proceeds from its recent financing will support ongoing research and development and advance candidates into clinical development. Verastem was founded by Rich Aldrich, Michelle Dipp, Piyush Gupta, Satish Jindal, Eric Lander, Robert Weinberg and Christoph Westphal. The company is backed by venture investors including Advanced Technology Ventures, Astellas Venture Management, Bessemer Venture Partners, Cardinal Partners, Longwood Founders Fund and MPM Capital. Verastem is a Boston, MA–based biopharmaceutical company focused on discovering and developing drugs that target cancer stem cells. Its core technology is a cancer stem cell screening platform used to identify therapies across a broad range of cancers, including breast cancer. The company closed a $16M Series A financing to support its discovery and development efforts. Verastem was co-founded by Rich Aldrich, Michelle Dipp, Piyush Gupta, Satish Jindal, Eric Lander, Robert Weinberg and Christoph Westphal. A scientific advisory board that includes Julian Adams, George Daley, Daniel Haber, Yossi Schlessinger, Phil Sharp, Roger Tung, Chris Walsh and Eric Winer will advise the company as it discovers and develops new types of cancer drugs. The financing and advisory support are intended to advance its drug discovery and development programs.

Led · Debt Financing · Jan 2024

ImmunityBio is a clinical-stage immunotherapy company developing immunotherapy and cell therapy platforms to activate innate and adaptive immune responses against cancer and infectious pathogens. Its lead product, N-803 (Anktiva), is being developed in combination with Bacillus Calmette-Guérin (BCG) for BCG-unresponsive non-muscle invasive bladder cancer (NMIBC) with carcinoma in situ (CIS) with or without Ta or T1 disease. The company resubmitted a Biologics License Application (BLA) on October 23, 2023, and the FDA set a PDUFA goal date of April 23, 2024 for the resubmission. Proceeds from the recent financing are intended to accelerate commercialization in anticipation of potential FDA approval, expand development across urological cancers and other solid tumors, and fund ongoing operations and clinical trials to expand Anktiva indications. Financially, ImmunityBio received $210 million of gross proceeds at closing from a combined royalty financing and equity investment by Oberland Capital, with additional contingent funding tied to regulatory approval and an equity purchase option. The company also amended debt arrangements with Nant Capital—extending maturities on promissory notes of approximately $505 million and agreeing to potential conversions of up to $380 million of principal plus accrued interest—concurrent with the financing. NantCell is building an integrated immunotherapy platform aimed at a chemotherapy‑free cancer vaccine, combining adenovirus and yeast delivery systems, bispecific/trispecific fusion cytokine proteins, mRNA, monoclonal antibodies and targeted NK/T cell therapies. Its lead asset is an IL15/Fc bispecific fusion protein that has entered registration trials (including two bladder cancer trials) and received Fast Track designation for relapsed non‑muscle invasive bladder cancer. The company reports active enrollment in registration trials across 15 indications and a clinical portfolio that includes seven molecules in Phase 1, four in Phase 2, and three in registration trials; 14 unique biomolecules have been tested in over 1,000 patients. The preclinical pipeline includes 28 unique molecules (fusion proteins, mRNA, cytokines and antibodies), six of which were described as IND‑ready with anticipated filings in 2019. NantCell has developed GMP manufacturing capabilities for its lead cytokine, delivery systems, and an automated “GMP in a Box” for targeted NK and T cell production. Financially, Celgene completed a crossover funding round in December 2018 and has been a strategic investor in the company.

Led · Debt Financing · Jun 2017

Melinta Therapeutics focuses on discovering, developing, and commercializing antibiotics that address life-threatening bacterial infections, particularly those caused by drug-resistant ESKAPE pathogens. Its lead product, Baxdela (delafloxacin), has U.S. FDA approval for the treatment of acute bacterial skin and skin structure infections (ABSSSI) and received priority review under the GAIN Act. The company plans to expand Baxdela into additional indications, including community-acquired bacterial pneumonia, and is leveraging Nobel Prize-winning science to create an entirely new class of antibiotics against multi- and extremely-drug-resistant organisms. Headquartered in New Haven, Connecticut, with offices in Lincolnshire, Illinois, Melinta is backed by investors such as Vatera Healthcare Partners and Malin Corporation plc. The firm positions itself as a key player in combating the global public-health crisis of antibiotic resistance. This financing provides the capital needed to commercialize Baxdela’s first indication and support further clinical studies while retiring earlier debt. The structure of the financing—with a mix of debt and equity and cash-sparing repayment terms—helps preserve the company’s ownership structure and financial flexibility.