![]() Root spent nine years in clinical practice before joining USVP in 1995 and becoming a general partner in 1997. With these additional resources, we’re focused on advancing our lead program into the clinic this year and progressing our preclinical pipeline assets towards the clinic.”Īlong with the financing, Jonathan Root, M.D., general partner at USVP, and Thilo Schroeder, Ph.D., partner at Nextech Invest Ltd., have joined Silverback’s board of directors.ĭr. “We are pleased to attract a group of world-class investors who believe in our bold vision to develop potent immune-modulating agents that can be delivered systemically, but act locally at the site of disease. “Our preclinical studies demonstrate that systemic delivery of our TLR8 agonist targeted to HER2-expressing tumors potently activates myeloid cells to kill cancer and reprograms the tumor microenvironment, resulting in durable, curative single-agent activity,” said Peter Thompson, M.D., co-founder, Chairman, & CEO, Silverback Therapeutics. The Company expects to file an Investigational New Drug Application (“IND”) and initiate clinical investigation for SBT6050 this year. Silverback will use the proceeds to support ongoing development of SBT6050, an anti-HER2 antibody conjugated to a potent TLR8 agonist for the treatment of HER2-expressing solid tumors, and to advance its pipeline of ImmunoTAC ™ programs. Existing investors participating in the financing include OrbiMed Advisors LLC, Bristol-Meyers Squibb and Alexandria Venture Investments, LLC. Venture Partners (“USVP”) led the round, with participation from new investors including Nextech Invest Ltd., Hunt Investment Group, Pontifax Venture Capital, Colt Ventures LP and NS Investment. Hunder joined the company last year as senior vice president of clinical research and development after holding similar roles at Acerta Pharma and Seattle Genetics.SEATTLE-( BUSINESS WIRE)-Silverback Therapeutics™ (“Silverback”) (“the Company”), a private biopharmaceutical company pioneering a new class of immune-modulating ImmunoTAC™ drug conjugates targeting previously inaccessible disease pathways, today announced the close of an oversubscribed $78.5 million Series B financing round. ![]() Venture Partners, Boxer Capital and Fidelity also chipping in.Īlong with the financing, Silverback announced a pair of promotions: Odegard, who’s served as chief scientific officer since 2018, adds president to her title, while Naomi Hunder, M.D., becomes chief medical officer. ![]() EcoR1 Capital led the series C round, with the likes of Orbimed, U.S. ![]() The new funding will also push forward Silverback’s other ImmunoTAC programs, including an ADC aimed at Nectin-4-the target of Seattle Genetics’ bladder cancer ADC Padcev-in HER2-positive cancers, and undisclosed programs in cancer, virology and fibrosis. SBT6050 is not the first drug of its kind to target HER2-positive cancers-Genentech’s Kadcyla has been available for years, getting its first approval for late-stage, HER2-positive breast cancer in 2013-but it could come in handy for patients who relapse after receiving Herceptin, Perjeta and Kadcyla. RELATED: Shawver takes the wheel at I-O biotech Silverback Therapeutics It’s an improvement on previous efforts with TLR8 agonists, which have been delivered systemically and lead to side effects that limit the amount of drug a patient can take, Odegard said. The antibody makes sure the payload is delivered only to the HER2-expressing cancer cells, while the TLR8 agonist activates immune cells called myeloid cells to attack the tumor and “reprogram” the tumor microenvironment. The company’s lead program, SBT6050, is an ADC that targets TLR8 in tumors that express the HER2 gene. RELATED: Silverback Therapeutics bags $79M to push antibody-drug conjugate into clinic But due to systemic toxicity associated with administering small molecules-and in some cases, antibodies, against those pathways-there hasn’t been a way to advance a therapy that appropriately targets or covers those pathways,” said Valerie Odegard, Ph.D., Silverback president and chief scientific officer, in a previous interview. “There are a number of pathways known to undergird the pathophysiology of various disease. This approach allows Silverback to target pathways that have previously been out of reach for small molecules because of their side effects. Its work is based on its ImmunoTAC platform, which attaches antibodies to small molecules that adjust the immune system, instead of cytotoxic, or cell-killing, drugs. Unlike other ADCs designed to kill cancer cells, Silverback is working on treatments that ramp up the body’s immune response to cancer. The immuno-oncology biotech is picking up another $85 million to advance its lead antibody-drug conjugate (ADC) through the clinic and to develop its earlier-stage pipeline. After banking $78.5 million six months ago, Silverback Therapeutics is back for more. ![]()
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