NYU Langone Health spins off therapeutics startup in $30M deal

New York City-based NYU Langone Health has spun off a cancer therapeutics company thanks to a $30 million investment in the startup.

Aethon Therapeutics launched Jan. 9 with $25 million in funding from venture capital firm Apple Tree Partners and another $5 million from funders including NYU Langone Health, which has equity in the company. Aethon aims to create novel antibodies that overcome drug resistance by boosting immunity and identifying and eliminating cancer cells.

"We are excited to be part of new efforts in the field to improve and extend the effects of targeted therapy and prevent resistance and relapse," said Shohei Koide, PhD, a researcher at NYU Langone Health's Perlmutter Cancer Center and an inventor of Aethon's drug discovery platform, in a Jan. 9 Aethon news release. "By uniting immunotherapy and targeted therapy in this way, we hope to amplify the power of both."

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