Peloton Secures $150m for Unique Drug Development

| By | Cancer Drugs, Financing

Peloton Therapeutics, Inc., a drug discovery and development company advancing first-in-class oral medicines for cancer and other serious conditions, announced the closing of an oversubscribed $150 million Series E financing. The financing was led by RA Capital Management and was joined by new investors including Eventide Asset Management, Biotechnology Value Fund, OrbiMed, EcoR1 Capital, Vida Ventures, Curative Ventures and Driehaus Capital Management LLC. Peloton’s existing investors, including The Column Group, Nextech Invest Ltd, Topspin Fund LP, Tichenor Ventures LLC and Foresite Capital Management also participated in the financing.

We are delighted to have received such avid support from this eminent group of healthcare investors. Proceeds from this financing will be used to advance Peloton’s research and development pipeline, including our lead drug candidate, PT2977, a potent and selective oral HIF-2α inhibitor,

said John Josey, Ph.D.,
Peloton’s Chief Executive Officer.

RA Capital is excited to support Peloton as it moves towards a Phase 3 trial of PT2977 for patients with metastatic renal cell carcinoma and pushes forward clinical development of this drug candidate in Von Hippel-Lindau disease, a familial cancer syndrome for which there are currently no approved drugs,

said Derek DiRocco, Ph.D.,
Principal, RA Capital Management.