Bright Peak Therapeutics Secures $90M in Series C to Advance PD1-IL18 Program to Trials

Bright Peak Therapeutics, a biotechnology firm specializing in advanced multifunctional immunotherapies, has announced a significant milestone with the completion of a $90 million Series C funding round. This financial boost is spearheaded by Johnson & Johnson Innovation – JJDC, alongside new investors such as Venrock, KB Investment, and Northleaf Capital Partners. Existing investors like Versant Ventures, Fidelity Management & Research Company, RA Capital Management, Qatar Investment Authority, Invus, Alexandria Venture Investments, and an undisclosed major healthcare investment fund also contributed to this successful round.

The newly acquired funds will expedite the development of Bright Peak's leading program, BPT567, which is poised to become the first PD1-IL18 immunoconjugate to enter clinical trials. This innovative therapy aims to undergo Phase 1/2a clinical trials in solid tumors, projected to commence in the second half of 2024. BPT567 is designed to block the PD(L)-1 checkpoint pathway while delivering IL-18 signaling directly to effector T cells within the tumor microenvironment. This dual-action mechanism has shown significant anti-tumor activity in preclinical models by limiting the activation of peripheral immune cells while focusing potent proinflammatory effects within the tumor.

Fredrik Wiklund, CEO of Bright Peak, expressed optimism about the progress, emphasizing that the company is in a strong position to bring necessary advancements to anti-PD-1 immune-checkpoint inhibition. He highlighted the potential of BPT567 across various tumor types, marking a pivotal step in cancer treatment innovation.

The Series C funding not only secures the financial flexibility required to bring new therapeutic options to cancer patients but also underscores the confidence and support from prominent players in the pharmaceutical and life sciences investment sectors. Bright Peak Therapeutics leverages cutting-edge protein engineering, chemical protein synthesis, and conjugation platforms to develop pioneering protein therapeutics aimed at treating cancer and other diseases.

Based in Basel, Switzerland, and San Diego, CA, Bright Peak continues to push the boundaries of immunotherapy with the backing of esteemed healthcare investors. The company's breakthrough approach combines innovative protein engineering with a focus on creating multifunctional therapeutics that tackle complex diseases at a molecular level, paving the way for new treatments that could revolutionize cancer care.