Presage Biosciences raises $13M and inks new deal with Merck for cancer drug tests
March 4, 2021 at 3:30 pm
Presage CEO Richard Klinghoffer. (Presage Photo)
New funds, new partners: Seattle’s Presage Biosciences announced $13 million in funding as well new collaborations with biotech giant Merck and California-based Maverick Therapeutics. Presage is a biotech device company that has built a platform for testing new cancer drugs used to treat tumors.
Presage has existing partnerships with healthcare heavy hitters Takeda Pharmaceutical, Celgene and Bristol Myers Squibb (BMS). The company has raised a total of $35 million in equity, and this its first venture round.
Quicker, cheaper drug screening: Before a cancer drug is given to patients in phase I trials, it’s first tested in the lab. But many of the drugs that appear to hold promise in that setting don’t perform well when marshaled against actual tumors in people.
Presage Sets the Stage for Commercial Expansion with Closing of $13M Financing and Execution of New Phase 0 Trial Agreements with Merck and Maverick Therapeutics
- Funds to Support Expansion of CIVO® Technology Platform
- New Collaborations to Utilize CIVO for Phase 0 Studies
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SEATTLE, March 2, 2021 /PRNewswire/ Presage Biosciences, Inc., a biotechnology company pioneering a new cancer drug development approach using its Comparative
In Vivo Oncology (CIVO®) intratumoral microdosing platform, today announced the closing of a $13 million financing and commencement of new research collaborations with Merck, known as MSD outside of the United States and Canada, and Maverick Therapeutics.