Viracta Therapeutics Completes Series D Financing to Advance EBV-Associated Malignancy Programs

VCBeat (WeChat Official Account: vcbeat) has learned that on October 28, 2019, Viracta Therapeutics, a clinical-stage drug development company based in California, USA, announced the completion of its Series D financing. The round was led by Taiwania Capital Management, with existing investors NantKwest, Wicklow Capital, Latterell Venture Partners, and Forward Ventures participating as co-investors. The financial terms were not disclosed.

In conjunction with this financing, Michael Huang, Executive Partner at Taiwania Capital, was appointed to the Board of Directors of Viracta Therapeutics.

The proceeds from this financing round will be used to advance the company’s precision oncology clinical program for the treatment of Epstein-Barr virus (EBV)-associated lymphoma into Phase 2 clinical trials, and to continuously promote the registration-enabling study in 2020, with the aim of expanding into additional EBV-associated malignancies.

Viracta Therapeutics is a clinical-stage drug development company dedicated to developing new therapies based on its proprietary viral gene activation therapy, aiming to benefit patients with virus-associated malignancies and other serious diseases.

Viracta Therapeutics’ lead program at this stage is an all-oral combination therapy of nanatinostat and valganciclovir, which is currently being evaluated in a Phase 2 clinical trial for Epstein-Barr virus (EBV)-positive lymphomas. Viracta intends to apply this “Kick and Kill” approach to other EBV-associated malignancies, such as nasopharyngeal carcinoma and other virus-related cancers.

Michael Huang, Partner at Taiwania Capital, stated, “Viracta Therapeutics has made significant progress in its clinical development program for EBV-positive lymphomas, and the data obtained to date are highly encouraging. Taiwania Capital is pleased to support the company’s next phase of growth.”

Taiwania Capital Management, established in 2017, is a venture capital firm. The company focuses on investing in early-stage companies operating in the fields of enterprise software, autonomous systems, artificial intelligence, Internet of Things (IoT), robotics and drones, information security, semiconductors, sensors, cloud infrastructure, materials, energy, new agriculture, pharmaceutical product development, gene and cell therapy, biotechnology, and medical technology.

NantKwest, founded in 2002 and headquartered in San Diego, USA, is an innovative clinical-stage immunotherapy company dedicated to harnessing natural killer (NK) cells for the treatment of cancer, infectious diseases, and inflammatory disorders. NantKwest holds a unique advantage in implementing precision oncology; its NK cell therapy demonstrates a favorable safety profile and has undergone multiple Phase I clinical trials in the United States, Canada, and Europe.

Latterell Venture Partners, founded in 2001 and headquartered in San Francisco, USA, is a venture capital firm focused on startups and early-stage healthcare companies, including those in biotechnology, pharmaceuticals, research instruments, biomaterials, medical devices, healthcare IT, and diagnostics.

Forward Ventures, founded in 1993 and headquartered in San Diego, USA, specializes in venture capital investments in the biosciences sector. The firm boasts a professional investment team with extensive experience in entrepreneurship, venture capital, and operations. Since its inception in 1993, Forward Ventures has invested in more than 50 companies and currently manages over $500 million in capital.

(Compiled by Wang Fang)