Bolt Biotherapeutics Secures $54 Million Series B Financing to Advance Proprietary Boltbody™ Immuno-Oncology Platform

VCBeat (WeChat Official Account: vcbeat) has learned that biotechnology company Bolt Biotherapeutics recently announced the completion of a $54 million Series B financing round. The round was led by Pivotal bioVenture Partners, with participation from Nan Fung Life Sciences, Novo Holdings, and Vivo Capital. The funds will be used to advance the company’s Boltbody™ platform technology into clinical applications.

Bolt Biotherapeutics previously secured $600,000 in seed funding in March 2015, followed by venture capital rounds of $10 million in September 2016 and $19.4 million in August 2018. These funds were all utilized to advance the development of Bolt Biotherapeutics’ core technology platform.

Bolt Biotherapeutics’ flagship product, the Boltbody™ platform, consists of Immune-Stimulating Antibody Conjugates (ISACs). The platform combines tumor-targeting antibodies with potent immune stimulants, such as TLR agonists, demonstrating the ability of Boltbody™ ISAC technology to eliminate tumors in preclinical models following systemic administration.

“Our Boltbody™ ISAC platform has made significant progress, with the ability to transform ‘cold’ tumors into immunologically ‘hot’ tumors following systemic administration by leveraging Toll-like receptor (TLR) agonists. We are now poised to apply this novel technology to the clinical development of new drug candidates. In the coming months, we will also disclose more details regarding our lead programs and platform,” said Dr. Peter Molt, Advisor at Novo Ventures and Executive Chairman of the Board of Directors at Bolt Biotherapeutics. “The participation of world-class biotechnology investors will help further advance research in cancer immunotherapy.”

“Bolt Biotherapeutics’ targeted therapy platform is developing rapidly and holds great promise,” said Dr. Ash Khanna, Venture Partner at Pivotal bioVenture Partners. “Bolt Biotherapeutics’ proprietary ISAC technology differs from other immuno-oncology approaches, as evidenced by the robustness of its preclinical safety and efficacy data, particularly in inducing durable systemic anti-tumor immunity. This novel technology is highly anticipated.”

Bolt Biotherapeutics is a privately held biotechnology company headquartered in San Francisco, developing Boltbody™, a novel cancer therapy technology. The company is currently led by a team with extensive experience in oncology drug discovery and development. Furthermore, Bolt Biotherapeutics was founded by Dr. Ed Engleman, Professor of Pathology and Medicine at Stanford University School of Medicine, and its platform is based on technology exclusively licensed from Stanford University.

Pivotal bioVenture Partners is a $300 million life sciences venture capital fund focused on investing in private companies across North America and Europe, particularly in innovative therapeutic technologies to meet future healthcare needs. The fund invests at all stages of company development, from inception through mid- and late-stage clinical development. It also openly shares its extensive expertise in venture capital, company building, and drug discovery and development to collaborate with entrepreneurs in advancing their businesses.

Novo Holdings, headquartered in Copenhagen, Denmark, with branches in San Francisco and Boston, is a world-leading life sciences investor focused on creating long-term value. As the holding company of the Novo Group, Novo Holdings manages the investment assets of the Novo Nordisk Foundation. The firm invests in life sciences companies at various stages of development.

Vivo Capital is an investment firm focused on the healthcare sector. Founded in 1996, it manages over $3 billion and has offices in Palo Alto, California; Beijing; Shanghai; and Taipei.

Vivo Capital employs a unique, multi-pronged strategy that involves identifying and partnering with promising companies in the United States and Greater China. Vivo’s current portfolio comprises more than 80 private and public biotechnology companies, spanning areas such as biopharmaceuticals, specialty pharmaceuticals, and medical devices.

(Compiled by Ning Chen)