Lexington-based biopharmaceutical company, Accent Therapeutics developing cutting-edge precision cancer therapies, has successfully concluded a $75 million Series C financing round, to advance its groundbreaking DHX9 inhibitor and potential best-in-class KIF18A inhibitor, addressing critical unmet needs in oncology targets.
The funding, spearheaded by Mirae Asset Capital Life Science, underscores the industry’s confidence in Accent’s innovative approach to tackling high-impact oncology targets.
“We are delighted to announce the backing of an exceptional investor syndicate who share our commitment to advancing innovative therapies for patients with cancer,” said Shakti Narayan, PhD, CEO of Accent Therapeutics.
“These additional resources position us well to file INDs this year for both our DHX9 and KIF18A programs, and to rapidly progress them through early clinical development,” he added.
Existing investors, including The Column Group, Atlas Venture, Droia Ventures, GV, EcoR1 Capital, AbbVie Ventures, The Mark Foundation for Cancer Research, and Timefolio Capital, also contributed to the substantial funding.
Utilizing Funds for Clinical Development
The $75 million proceeds will be pivotal in advancing Accent’s two lead programs – a groundbreaking DHX9 inhibitor and a promising KIF18A inhibitor – through early clinical development stages.
These include comprehensive assessments of safety, pharmacokinetics, and early efficacy studies, driving the therapies closer to potential breakthroughs in cancer treatment.
Accent’s primary focus is on its first-in-class DHX9 inhibitor, designed to address critical unmet needs in various cancer indications.
With a particular emphasis on tumors with BRCA loss of function (breast, ovarian), mismatch repair deficient (dMMR) or microsatellite instability-high (MSI-H) cancers (colorectal, endometrial, gastric), and undisclosed cancer types, the DHX9 inhibitor targets vulnerabilities in these specific tumor types, leading to cancer-specific death.
Secondary Program: KIF18A Inhibitor
The second lead program centers around a potential best-in-class inhibitor for KIF18A, a mitotic kinesin motor protein crucial for cell division in select tumors with chromosomal instability.
This inhibitor has shown promising results in rapidly killing tumor cells with abnormal chromosome numbers (aneuploid), making it a prospective candidate for ovarian and triple negative breast cancer (TNBC) indications.
Accent Therapeutics aims to develop therapeutics that address both novel and under-addressed oncology targets, catering to significant patient populations with unmet needs on a global scale.
The company’s unique approach, rooted in targeting RNA-modifying proteins (RMPs), opens doors to potentially transformative biomarker-driven cancer medicines.
Led by CEO Shakti Narayan, PhD, JD, Accent Therapeutics leverages its expertise in RMPs and systematic mapping to explore high-value areas for drug discovery. The company’s commitment to flexibility in drug development approaches reflects its dedication to providing solutions for a diverse range of cancer types.
Accent Therapeutics’ successful completion of the $75 million Series C financing not only underscores investor confidence but also positions the company at the forefront of precision cancer therapies.
The focus on DHX9 and KIF18A inhibitors showcases Accent’s commitment to addressing critical unmet needs across various cancer indications, offering hope for large patient populations worldwide.
“Accent’s focus on targeting cancer cell vulnerabilities in a specific and robust way really stood out as we were evaluating companies for our first investment. They have assembled an incredible team with a successful track record of drug development,” said Naveen Krishnan Managing Director of Mirae Asset Capital Life Science. “
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