March 30, 2020

Silverback Therapeutics – $78.5 Million

Silverback Therapeutics

Seattle, WA ; 03/11/2020

Amount Funded: $78.5 Million

Type: Series B

Lead Investor: U.S. Venture Partners

Participating Investor(s): Nextech Invest Ltd., Hunt Investment Group, Pontifax Venture Capital, Colt Ventures LP , NS Investment, OrbiMed Advisors LLC, Bristol-Meyers Squibb,  Alexandria Venture Investments, LLC.

Total Funding to Date: $125 Million

Company Description: Silverback Therapeutics is a privately held biopharmaceutical company advancing a pipeline of therapies that are systemically delivered, but locally active and target fundamental disease pathways. Silverback’s ImmunoTAC™ platform enables local modulation of powerful biologic pathways enabling innovative therapeutic approaches to oncology, virology and fibrotic diseases. Silverback’s lead candidate, SBT6050, directly and potently activates myeloid cells in HER2-containing tumors leading to eradication of the cancer cells and reprogramming of the tumor microenvironment in preclinical models. Clinical investigation of SBT6050 is expected to begin in 2020.

What funding will be used for: Support ongoing development of its SBT6050 anti-HER2 antibody, advance its pipeline of ImmunoTAC programs.

Quotes:

“Our preclinical studies demonstrate that systemic delivery of our TLR8 agonist targeted to HER2-expressing tumors potently activates myeloid cells to kill cancer and reprograms the tumor microenvironment, resulting in durable, curative single-agent activity. We are pleased to attract a group of world-class investors who believe in our bold vision to develop potent immune-modulating agents that can be delivered systemically, but act locally at the site of disease. With these additional resources, we’re focused on advancing our lead program into the clinic this year and progressing our preclinical pipeline assets towards the clinic.”

-Peter Thompson, M.D., co-founder/Chairman/CEO, Silverback Therapeutics

Notes:

  1. Jonathan Root, M.D., general partner at U.S. Venture Partners and Thilo Schroeder, Ph D., partner at Nextech Invest Ltd., have joined Silverback’s board of directors. 
  2. Silverback plans to file an Investigational New Drug Application and initiate clinical investigations for SBT6050 this year.

Data provided by respective company (unless otherwise noted) and researched by StartupsOne for accuracy.

 

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