Larkspur Biosciences Emerges with $35.5M Financing to Advance Next-Generation Precision Immuno-Oncology Therapies

On May 23, 2023, Larkspur Biosciences emerged with $35.5 million in financing, dedicated to developing next-generation precision cancer immunotherapies. This round was co-led by Polaris Innovation Fund, 3E Bioventures (Bencao Capital), and Takeda Ventures.

Larkspur Biosciences targets the unique mechanisms by which tumors hijack the immune system. Building on the foundational work of its scientific founders—Professor Lewis Cantley of Weill Cornell Medicine, who discovered the PI3K signaling pathway; Professor Nathanael Gray of Stanford University; and Professor Vijay Kuchroo of Harvard Medical School—the company aims to address key bottlenecks exploited by tumors to undermine immune responses, thereby developing precision immunotherapies for specific molecularly defined patient populations.

This financing will support IND-enabling studies for the company’s lead pipeline targeting lipid remodeling, and further advance preclinical research on its Pin1 pipeline, which involves key mechanisms of fibroblast differentiation and immune system activation. Additionally, Larkspur possesses a unique target discovery platform, LarkX, which leverages patient genetics and immunophenotypes to identify novel targets, thereby supporting the enrichment of its future pipeline and external collaborations.

Dr. Catherine Sabatos-Peyton, CEO of Larkspur Biosciences, stated, “The development of tumor immunotherapy has become the standard of care in many settings; however, many patients remain unresponsive to existing immunotherapies or face the challenge of recurrence. Tumors create multiple barriers to suppress potent immune responses. Larkspur was founded to overcome these bottlenecks and develop novel precision medicines that address the significant unmet needs of cancer patients.”

Larkspur’s approach is grounded in extensive research in the fields of tumor cell biology, biochemistry, and immunology. The company’s proprietary platform, LarkX, leverages patients’ genetic and immunophenotypic data, employing bioinformatics and in vitro models to identify key immune barriers. By gaining deep insights into immune evasion characteristics shared across various cancer indications, LarkX creates opportunities for addressing multiple types of cancer.

Larkspur’s founders—Professors Lewis Cantley, Nathanael Gray, and Vijay Kuchroo—are world-class scientists and successful entrepreneurs. Each founder brings deep expertise in their respective fields, and their unique collaborative approach has deciphered the cancer-immune interaction interface, laying the scientific foundation for Larkspur. The company is led by an experienced team with a proven track record of excellence in clinical development and target discovery platforms. In addition to Dr. Sabatos-Peyton, the leadership team includes Chief Scientific Officer Dr. Krista Goodman and Executive Vice President of Biology and Translation, Dr. Emily Corse. Following this round of financing, Dr. Yan Shixiang, Partner at Bencao Capital, will join the Company’s Board of Directors to collectively drive Larkspur’s growth and innovation.