Research Corporation Technologies, Inc.

Dr. Kariuki brings a wealth of experience in ADCs, across corporate strategy, finance and operations Advancement of Pheon's differentiated ADC pipeline, accelerating first program, PHN-010, into clinical development this year LONDON, Sept. 10, 2024 /PRNewswire/ -- Pheon Therapeutics (Pheon), a leading Antibody-Drug Conjugate (ADC) specialist developing next generation ADCs for a wide range of hard-to-treat cancers, today announces the appointment of accomplished biotech executive, Enoch Kariuki, Pharm.D., to its Board of Directors as an independent, non-executive director. Dr. Kariuki possesses extensive strategic, operational, and financial life sciences experience. He most recently served as the Chief Executive Officer of Lengo Therapeutics, which was acquired by Blueprint Medicines. Prior to Lengo Therapeutics, he served as the Chief Financial Officer of VelosBio, which was acquired by Merck, where he led all finance-related and investor relations functions. Prior to that, he was Senior Vice President, Corporate Development at Synthorx, which was acquired by Sanofi. In addition, Dr. Kariuki previously served as Board Director and Audit Chair of Imago Biosciences which was acquired by Merck, and ProfoundBio which was acquired by Genmab. Cyrus Mozayeni, MD, Chief Executive Officer of Pheon, said: "Dr. Kariuki joins Pheon at a pivotal stage of growth, as we advance into clinical development with PHN-010, our lead ADC program targeting patients with advanced solid tumors. His decision to join Pheon's board reflects his belief in our innovative pipeline and our team's track record in targeted oncology therapies and ADCs. Dr. Kariuki brings a wealth of executive leadership experience and knowledge in ADCs, which further strengthens our board as we transition into a clinical stage company and beyond." Dr. Kariuki's appointment follows the completion of a $120m Series B financing round earlier this year to advance Pheon's three first-in-class ADC assets through clinical proof of concept. The company's first program, PHN-010, will enter Phase 1 clinical trials in 2024, targeting an undisclosed novel target which is overexpressed in a wide range of solid tumors. Enoch Kariuki, Pharm.D., newly appointed Board Member of Pheon, commented: "There have been tremendous advances in the evolving field of ADCs and through my previous experience in advising and investing in life sciences companies, I have become familiar with Pheon's innovative work. I am excited to contribute to Pheon's development of next generation ADCs and to help advance these transformative therapies for the benefit of patients in need." Dr. Kariuki currently serves on the board of Zentalis Pharmaceuticals and is President of Endeavor BioMedicines. Earlier in his career, Dr. Kariuki was Vice President at H.I.G. Capital, a private equity firm managing over $60 billion in assets, where he invested in and served on the boards of multiple life sciences companies. His other previous positions include Senior Associate at Leerink Partners and Associate Director at UBS Investment Bank, where he advised healthcare companies on equity capital financings, mergers and acquisitions, leveraged buyouts, and recapitalizations. Dr. Kariuki completed a Post-Doctoral Fellowship in R&D Strategy and Analytics at Bristol-Myers Squibb and was a Pharmacist at CVS Caremark. He holds an MBA from the Tuck School of Business at Dartmouth College and a PharmD from Texas Southern University. About Pheon Therapeutics Pheon Therapeutics is an Antibody Drug Conjugate (ADC) specialist developing a pipeline of ADCs, based on novel targets and novel linker payloads, to treat solid tumors. Pheon's lead program is a first-in-class ADC program against a novel target that is highly overexpressed in solid tumors across a broad range of hard-to-treat cancer types. Pheon is backed by expert, specialist healthcare investors TCGX, Atlas Venture, BVF Partners, Brandon Capital, Forbion, Lightspeed Venture Partners (Lightspeed), Perceptive Advisors, and Research Corporation Technologies. Pheon has a world class, proven leadership team that brings together the best of ADC engineering, clinical and managerial expertise, and track record. For further information, please visit SOURCE Pheon Therapeutics WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In GET STARTED

Financing led by TCGX, including new investment from BVF Partners, Lightspeed Venture Partners (Lightspeed) and Perceptive Advisors Three first-in-class ADC assets funded through clinical proof of concept LONDON, May 21, 2024 /PRNewswire/ -- Pheon Therapeutics (Pheon), a leading Antibody-Drug Conjugate (ADC) specialist developing next generation ADCs for a wide range of hard-to-treat cancers, today announces the completion of a $120m Series B financing to fund the development of its pipeline of differentiated ADCs. The financing was led by TCGX with participation from other new investors BVF Partners, Lightspeed and Perceptive Advisors, alongside existing investors Atlas Venture, Brandon Capital, Forbion, and Research Corporation Technologies. The new financing will be used to further advance Pheon's differentiated ADC pipeline through clinical proof of concept. The first three assets are aimed at an undisclosed novel target which is highly overexpressed in a wide range of solid tumors. The first program has demonstrated an unprecedented preclinical therapeutic index while utilizing a DAR8 Topoisomerase-1 inhibitor linker-payload, whereas the next two ADCs utilize other linker-payload technologies to mine the broad potential of this target. The company expects to start its first Phase 1 clinical trial in 2024 and rapidly advance towards dose expansion cohorts. The capital will also enable the expansion of Pheon's suite of in-house technology platforms to generate optimized ADC constructs. Cyrus Mozayeni MD, Chief Executive Officer of Pheon, said: "This raise is a critical step as we transition into a clinical-stage company. The proceeds will fund a robust clinical development pathway for our first three ADC assets, which are based on an exceptional novel target. We are excited to be working on these promising candidates and look forward to sharing their potential therapeutic benefits with patients." Cariad Chester, Managing Partner of TCGX, commented: "The recent clinical successes of optimized ADC constructs validate the promise of this therapeutic modality to treat solid tumors. Continued progress against cancer is predicated upon innovative approaches to new targets. Pheon has an exciting pipeline of first and best-in-class ADC programs and I look forward to working with the company as it enters into the next stage of growth and development." As part of the financing, Cariad Chester, Managing Partner of TCGX, will join the board of directors. Notes to Editors About Pheon Therapeutics Pheon Therapeutics is an Antibody Drug Conjugate (ADC) specialist developing a pipeline of ADCs, based on novel targets and novel linker payloads, to treat solid tumors. Pheon's lead program is a first-in-class ADC against a novel target that is highly overexpressed in solid tumors across a broad range of hard-to-treat cancer types. Pheon is backed by expert, specialist healthcare investors TCGX, Atlas Venture, BVF Partners, Brandon Capital, Forbion, Lightspeed Venture Partners (Lightspeed), Perceptive Advisors, and Research Corporation Technologies. Pheon has a world class, proven leadership team that brings together the best of ADC engineering, clinical and managerial expertise, and track record. For further information, please visit About.TCGX TCGX is a healthcare investment firm dedicated to advancing disruptive medicines and supporting companies that can improve the lives of patients. TCGX invests in both private and public companies led by exceptional entrepreneurs focused on developing better treatment options for patients. TCGX has investment teams in Palo Alto and New York City. For more information, please visit About BVF Partners BVF Partners is a San Francisco-based investment management firm with a 30 year history of investing in public and private biotechnology companies. For more information, please visit: About Lightspeed Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, Health, and Fintech sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 500 companies globally including Affirm, Carta, Cato Networks, Epic Games, Faire, Forty Seven, Guardant Health, Mulesoft, Navan, Netskope, Nutanix, Rubrik, Sharechat, Snap, Udaan, Ultima Genomics and more. Lightspeed and its global team currently manage $25B in AUM across the Lightspeed platform, with investment professionals and advisors in the U.S., Europe, India, Israel, and Southeast Asia. About Perceptive Advisors Founded in 1999 and based in New York, NY, Perceptive Advisors is an investment management firm focused on supporting the progress of the life sciences industry by identifying opportunities and directing financial resources to the most promising technologies in healthcare. For more information about Perceptive, visit SOURCE Pheon Therapeutics

Investors continue to flock toward antibody-drug conjugates. Pheon Therapeutics is the latest to catch the tailwinds of the booming segment of oncology R&D. The London-based startup disclosed a $120 million Series B Tuesday morning from lead investor TCGX. The round will take Pheon through 2027 and support early clinical testing of three ADCs, CEO Cyrus Mozayeni told Endpoints News . New investors BVF Partners, Lightspeed and Perceptive Advisors also joined in the round, which received support from existing backers Atlas Venture, Brandon Capital, Forbion and Research Corporation Technologies. You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.