PIC Therapeutics, an oncology-focused biotechnology company, has raised $35 million in series A financing.
The company will use the capital to advance the development stage of its advanced breast cancer molecule drug. OrbiMed led the funding round, according to an Oct. 20 PIC Therapeutics news release.
"This financing from a committed and distinguished investor syndicate, which includes new and existing investors, underscores the progress we've made to advance our lead program toward our goal of cancer therapies that broadly address cancer-driving oncogenes via a fundamental mechanism in protein translational modulation," PIC CEO Katherine Bowdish said. "We are well positioned to build a leading mechanistic-based oncology company that brings promising science to cancer patients with drug-resistant tumors."