Halda Therapeutics Raises $126 Million for RIPTAC™ Cancer Therapy Clinical Trials

Halda Therapeutics, a biotechnology company focused on developing innovative cancer treatments, has secured $126 million in a Series B extension financing round. The round saw participation from prominent new investors such as Deep Track Capital, Frazier Life Sciences, RA Capital Management, Vida Ventures, Boxer Capital, and Taiho Ventures, along with existing investors including Canaan Partners, Access Biotechnology, Elm Street Ventures, and Connecticut Innovations. This brings the total funds raised by Halda to $202 million to date.

The freshly acquired funds will primarily support the clinical trials of two RIPTAC candidates aimed at treating prostate cancer and breast cancer, particularly in metastatic settings where resistance to standard treatments is common. Halda’s leading RIPTAC therapeutic, HLD-0915, is slated to begin a Phase 1 clinical trial in the first half of 2025 targeting patients with metastatic, castration-resistant prostate cancer (mCRPC). Additionally, the financing will bolster the development of a second RIPTAC therapeutic for metastatic breast cancer. The funds will also enable Halda to expand its team and continue developing its RIPTAC platform to address other unmet medical needs.

"We are thrilled to have the support of these leading healthcare investors who share our vision of being an innovator in cancer therapy. This funding will allow us to deliver our oral, selective cancer cell-killing mechanism to patients, designed to overcome drug resistance, a significant limitation of many current cancer treatments," commented Kat Kayser-Bricker, PhD, Chief Scientific Officer of Halda Therapeutics. "Our scientists have made remarkable progress, from the invention of the RIPTAC modality to the translation of this platform into promising prostate and breast cancer programs. With our first drug candidate entering clinical trials in the first half of 2025, we are poised to make a substantial impact."

Halda’s RIPTAC modality represents a novel approach in cancer treatment. These heterobifunctional molecules are engineered to target two proteins, leading to a unique cancer cell-killing mechanism. The "hold and kill" mechanism involves the convergence of a cancer-specific protein and an essential function protein, resulting in the disruption of vital cell functions and subsequent cancer cell death, while sparing non-cancerous tissues where the cancer-specific protein is minimally expressed.

Joe Cabral, Principal at Frazier Life Sciences, highlighted the need for new mechanisms to combat resistance to standard therapies across various tumor types. "RIPTAC therapies provide a selective means to kill cancer cells based on protein expression differences. This innovation has the potential to treat advanced cancer patients with diverse resistance adaptations, as well as those with earlier stages of disease. We are eager to collaborate with Halda’s scientists and clinicians to deliver groundbreaking therapies to improve outcomes for cancer patients."

Arjun Goyal, MD, Co-Founder and Managing Director at Vida Ventures, remarked, "Halda's team is pioneering a new era in oncology with RIPTAC therapeutics, which could offer solutions for cancer patients starting with two of the most prevalent types, prostate and breast cancer. The lead candidate, HLD-0915, particularly holds promise for a mutation-agnostic small molecule approach in the mCRPC setting, addressing unmet global needs for prostate cancer patients."

In line with this financing, new members including Rebecca Luse from Deep Track Capital, Joe Cabral from Frazier Life Sciences, Nandita Shangari from RA Capital Management, and Arjun Goyal from Vida Ventures, will join Halda’s Board of Directors.

Halda Therapeutics, founded by Yale University Professor Craig Crews, has developed the proprietary RIPTAC™ (Regulated Induced Proximity Targeting Chimeras) modality. This novel approach aims to overcome cancer’s adaptive resistance mechanisms, a common challenge in precision oncology. The company is preparing to start its Phase 1 trial in metastatic castration-resistant prostate cancer in 2025. With a leadership team experienced in bifunctional drug discovery, platform innovation, and clinical development, Halda is based in New Haven, CT.