Boundless Bio Secures $46.4M Series A Financing to Develop First-in-Class ecDNA-Targeted Cancer Therapies

On September 20, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company Boundless Bio announced the completion of a $46.4 million Series A financing round. The round was co-led by ARCH Venture Partners and City Hill Ventures, with participation from Vertex Ventures, GT Healthcare Capital Partners, Boxer Capital of the Tavistock Group, Alexandria Venture Investments, and other undisclosed investors.

Boundless Bio will use the proceeds from this financing round to develop its first ecDNA-targeted drugs for the treatment of cancer patients.

Boundless Bio, a biotechnology company founded by cancer researchers and headquartered in California, USA, is led by Dr. Paul Mischel, Distinguished Professor at the University of California, San Diego School of Medicine and member of the Ludwig Institute for Cancer Research. The company focuses on an emerging frontier in cancer biology and is a pioneer in studying the role of extrachromosomal DNA (ecDNA) in cancer pathogenesis. Boundless Bio is developing ecDNA-targeted therapies to provide transformative treatments for patients with previously refractory cancers.

ecDNA refers to DNA that exists outside of chromosomes. ecDNA can replicate rapidly within cells, generating large quantities of oncogenes, and this characteristic allows it to be transmitted asymmetrically to daughter cells during cell division. ecDNA contains multiple regulatory elements for gene-encoded proteins and other types of sequences. If ecDNA carries genes that are transcribed into proteins beneficial for cell survival, such as oncogenes, it will drive tumor growth. ecDNA is one of the primary mechanisms leading to cancer recurrence. This type of DNA is rare in healthy cells but has been found in many solid tumors.

Zachary Hornby, President and Chief Executive Officer of Boundless Bio, stated: “Boundless Bio aims to advance cancer care by developing novel therapies in the emerging field of extrachromosomal DNA (ecDNA) biology. When DNA detaches from chromosomes in the form of ecDNA within cancer cells, it replicates more rapidly and exhibits heightened transcriptional activity, enabling cancer cells to grow quickly and resist treatment. We are creating potent drugs that leverage ecDNA to eliminate cancer cells.”

Dr. Paul Mischel, founder of Boundless Bio, stated, “Through continuous research on ecDNA, our scientific founders have created a new map of cancer genome architecture to demonstrate why certain cancers become aggressive and resistant to existing therapies. We have developed a technology capable of identifying and characterizing ecDNA-driven tumors, ultimately enabling their pharmacological treatment. Boundless Bio brings together a team of pioneering, dedicated, and collaborative individuals committed to tackling the most difficult-to-treat cancers.”

Dr. Jonathan Lim, Managing Partner at City Hill Ventures and Venture Partner at ARCH Venture Partners, stated, “By investigating ecDNA biology, Boundless Bio is developing a novel class of therapeutics for cancer patients. We are delighted to support the company in applying this transformative technology to the treatment of cancers driven by gene amplification.”

Arch Venture Partners, founded in the United States in 1986, is a venture capital firm primarily focused on investments in healthcare and clean energy. It has invested in over 120 companies to date, with total assets under management reaching $1.9 billion.

City Hill Ventures is an investment firm focused on healthcare, founded in 2010 and headquartered in San Diego, California, USA.

Vertex Ventures HC is a venture capital firm based in Palo Alto, California, USA. The company invests across various sectors of the healthcare industry, including biopharmaceuticals, medical devices, and digital health.

GT Healthcare Capital Partners focuses on global healthcare investments and provides funding and scaling expertise to healthcare businesses in Greater China.

Tavistock Group is an international private investment firm headquartered in the Commonwealth of The Bahamas, with offices and significant business operations in North America, South America, Eastern Europe, Western Europe, and the Caribbean.

Boxer Capital LLC, established in 2005 and headquartered in Florida, USA, is a subsidiary of Tavistock Life Sciences, focusing on investments in biopharmaceutical development companies.

Alexandria Venture Investments is a venture capital firm in the healthcare sector, focusing on growth-stage companies.

(Compiled by Hu Yifan)