Biopharmaceutical company Accent Therapeutics has raised $75 million in a series C financing round, with the aim of using the funds to advance two of its precision oncology candidates to clinical trials.
The round was led by Mirae Asset Capital Life Science, with participation from other new investors, including Mirae Asset Capital, Mirae Asset Venture Investment, Bristol Myers Squibb, and Johnson & Johnson Innovation, as well as existing investors The Column Group, Atlas Venture, Droia Ventures, GV, EcoR1 Capital, AbbVie Ventures, The Mark Foundation for Cancer Research, and Timefolio Capital.
In addition to the financing round, the Lexington, MA-based firm announced in a statement that Dr. Naveen Krishnan, managing director of Mirae Asset Capital Life Science, will join the company's board of directors.
Accent has developed a DHX9 inhibitor as a treatment for breast and ovarian cancers, as well as colorectal, endometrial, and gastric cancers, and as a KIF18A inhibitor that the firm says it plans to focus on for cancers with high unmet need, such as triple-negative breast cancer. The firm plans to use the funds from the round to initiate clinical trials for both therapeutics.