Werewolf Therapeutics Secures $56 Million Series A Financing to Advance Immuno-Stimulatory Cancer Therapies

VCBeat (WeChat ID: vcbeat) learned from foreign media reports that on November 20, 2019, local time, oncology biotherapeutics company Werewolf Therapeutics announced the completion of a $56 million Series A financing round. The round was led by MPM Capital and Longwood Fund, with participation from Taiho Ventures, Arkin Bio Ventures, UPMC Enterprises, and DC Investment Partners.

Concurrent with this round of financing, Dr. Daniel J. Hicklin, founder of Werewolf Therapeutics, was appointed President and Chief Executive Officer of Werewolf Therapeutics.

This round of financing will be used by Werewolf Therapeutics to conduct research, recruit talent, and advance the early-stage clinical development of its platform and therapeutic candidates, with the ultimate goal of developing immuno-stimulatory cancer drugs.

Werewolf Therapeutics, founded with investment from MPM Capital, is currently developing novel immunostimulatory therapies designed to act selectively within the tumor microenvironment to enhance the body’s immune response against cancer. The company’s initial drug development efforts will focus on INDUKINESTM, a conditionally activated cytokine engineered to safely and effectively deliver potent anti-tumor immunity.

Pro-inflammatory cytokines and co-stimulatory receptor agonists are clinically validated cancer therapies, but their delivery at efficacious doses is hindered by severe systemic toxicity. Werewolf Therapeutics’ PREDATOR™ protein engineering platform creates potent biologics that can be systemically delivered in an inactive form to prevent adverse effects on non-target tissues. Within the tumor microenvironment, these molecules are selectively activated to unleash the full biological potential of cytokines and immunostimulatory antibodies, thereby maximizing therapeutic efficacy.

Dr. Hicklin stated, “Immunotherapy has become a foundational treatment option in oncology, but the range of patients benefiting from these drugs remains limited, and the development of more effective immunotherapies is severely constrained by significant toxicity. Werewolf Therapeutics is developing potent immunotherapies that stimulate anti-tumor immune responses with greater precision and efficacy, thereby enhancing the safety, effectiveness, and durability of treatment. Through our PREDATOR™ technology platform, we are creating a new class of translational immuno-oncology therapies to deliver clinically meaningful impact for patients.”

Dr. Luke Evnin, Co-Founder and Managing Director of MPM Capital, stated, “Immuno-oncology therapies are rapidly evolving, yet challenges remain in harnessing the human immune system without causing off-target side effects. The Werewolf team brings impressive and well-proven expertise in oncology drug development. We are excited to play a leading role in the next wave of cancer immunotherapies, which has the potential to transform the landscape of cancer treatment and serve a broad population of cancer patients.”

MPM Capital is a healthcare investment firm with over two decades of experience in founding and investing in life sciences companies. These companies are dedicated to translating scientific innovations into treatments for serious diseases. MPM boasts a team of experienced and dedicated investment professionals and executive partners committed to driving new breakthroughs in the medical field and transforming patients’ lives. The firm invests through three fund vehicles: the venture capital fund BV2018; the UBS Oncology Impact Fund (OIF); and another oncology-focused investment vehicle associated with the Dana-Farber Cancer Institute.

Longwood Fund is a leading life sciences venture capital firm dedicated to founding and investing in innovative healthcare companies. These companies have the potential to transform patients’ lives while delivering substantial value to investors. The Longwood team has a long-standing track record of successfully founding healthcare companies and providing operational leadership and strategic guidance.

(Compiled by: Wang Fang)