Actuate Therapeutics Secures $21.7M Series B Financing to Advance Lead Compound 9-ING-41 with 80% Tumor Response Rate in Preclinical Studies

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that on May 16, U.S. local time, biopharmaceutical company Actuate Therapeutics completed a $21.7 million Series B financing round. The funds from this round will be used to advance the Phase II clinical research of the company’s lead compound, 9-ING-41, to help cancer patients treat their disease.

It is reported that this round of financing was jointly invested by Kairos Ventures, DEFTA Partners, Tech Coast Angels, and Bios Partners.

Actuate Therapeutics, founded in 2015 and headquartered in Texas, USA, is a biopharmaceutical company dedicated to developing compounds for the treatment of cancer and inflammatory diseases.

Actuate Therapeutics focuses on researching compounds for aggressive tumors, including glioblastoma, ovarian cancer, breast cancer, and pancreatic cancer. Currently, the company has completed its study of the lead compound 9-ING-41. In clinical studies targeting various cancer cell models, the therapeutic efficacy of this compound has met expectations, with 80% of cancer tissues cured. Compound 9-ING-41 demonstrates favorable tolerability and pharmacokinetic properties, reducing damage to normal human tissues while treating cancer.

Dr. Frank Giles, Chief Medical Officer of Actuate Therapeutics, stated, “We are grateful for the support from both new and existing investors. Cancer has long been a focal point in the healthcare industry, with numerous medical institutions dedicated to developing novel therapeutic agents for cancer patients. Currently, our company is advancing the research of 9-ING-41, a lead compound. This financing will help us further optimize the drug’s properties. Through collaboration with multiple investment firms, we aim to expedite the launch of highly effective therapeutics to help cancer patients recover their health as soon as possible.”

Kairos Ventures, founded in 2015 and headquartered in California, USA, is a venture capital firm focused on investing in the early-stage development of startups. To date, it has completed 30 investments. In addition to providing financial support, Kairos Ventures offers companies access to a management team with extensive expertise, helping entrepreneurs manage their businesses and expand market share.

DEFTA Partners is a venture capital firm founded in California, United States, in 1984. It focuses on investing in the early and late development stages of startups in the healthcare and information technology sectors. Its investment geographic scope mainly includes the United States, Japan, Israel, and the United Kingdom. To date, it has completed 18 investments.

Tech Coast Angels, established in 1997 and headquartered in California, USA, is the largest angel investment group in the United States. The firm focuses on investing in the early and late-stage development of startups in life sciences, biotechnology, IT, retail, and the internet, having completed 462 investments to date.

Bios Partners is a private equity firm headquartered in Texas, United States. The firm focuses on investing in early- and growth-stage startups in the biotechnology and medical device sectors, having completed seven investments to date.

(Compiled by Liu Yujing)