Linnaeus Therapeutics Secures $12 Million Series B Financing to Advance Hormone-Sensitive Cancer Therapy

On September 19, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biopharmaceutical company Linnaeus Therapeutics (“Linnaeus”) announced the completion of a $12 million Series B financing round. The round was co-led by Kairos Ventures and the Penn Medicine Co-Investment Fund (“Penn Medicine”).

Linnaeus Therapeutics plans to use the proceeds from this round of financing to advance Phase I and Phase II clinical trials of its lead candidate, LNS8801, providing innovative treatment options for patients with advanced hormone-sensitive cancers, such as breast cancer.

It is reported that Linnaeus Therapeutics has completed two rounds of financing, raising a total of $14.2 million, including a $2.2 million round in September 2018.

Linnaeus Therapeutics’ lead drug candidate, LNS8801, is a selective agonist of the G protein-coupled estrogen receptor (GPER) and has demonstrated multiple activities in preclinical cancer models. The drug is currently in the final stages of preclinical research.

GPER is a key mediator in the non-genomic signaling pathway of estrogen, exhibiting significant inhibitory and cytotoxic effects on hormone-sensitive tumor cells, such as those found in breast and endometrial cancers. In addition to estrogen, estrogen analogs can also exert their functions through GPER. Linnaeus Therapeutics is exploring new cancer therapeutic targets based on this receptor and combining LNS8801 with modern immunotherapies to bring hope to patients with advanced-stage cancer.

Linnaeus Therapeutics, founded in 2016 and headquartered in New Jersey, USA, is a privately held innovative biopharmaceutical company. The company is dedicated to the development and commercialization of novel small-molecule oncology therapeutics, providing new treatment options for patients with cancers such as breast cancer. In addition to GPER agonists, Linnaeus is also developing small-molecule drugs targeting other G protein-coupled receptors (GPCRs) to inhibit tumor cell signaling pathways for therapeutic purposes.

Linnaeus Therapeutics boasts a dynamic and creative management and R&D team. Dr. Christopher Natale, Co-founder and Research Director of the company, is a graduate of the University of Pennsylvania in the United States. Dr. Tina Garyantes, Senior Vice President of Drug Development, holds degrees from the University of Pennsylvania and the California Institute of Technology, and is dedicated to advancing the field of cancer therapy.

Patrick Mooney, CEO of Linnaeus Therapeutics, stated, “With the completion of our Series B financing, we will accelerate the Phase I and II clinical studies of LNS8801 and advance the development of therapeutics for hormone-sensitive tumors.”

Kairos Ventures, a venture capital firm founded in 2015 and headquartered in Los Angeles, USA, works closely with world-leading technology companies and researchers to provide financial support and strategic guidance for their technology development and commercialization.

Penn Medicine is an investment fund based in Pennsylvania, USA. It is a company co-founded by faculty and researchers at the University of Pennsylvania, primarily investing in the healthcare sector.

(Compiled by Xu Xiaoxue)