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Halda Therapeutics Secures $126M to Advance Novel Targeted Cancer Therapy

NextEdge Admin

13 Aug 2024

2 min 12 sec

Halda Therapeutics, a biotech startup founded by Craig Crews, has raised an additional $126 million in a Series B funding round, bringing its total funding to $202 million. The company is advancing its novel cancer-fighting technology, RIPTAC, which uses a dual-acting small molecule drug to target and kill tumor cells. Developed in Crews' Yale University labs, RIPTAC works by binding a cancer-specific protein to another essential protein within tumor cells, disrupting vital functions and leading to cell death.

This innovative approach builds on earlier protein degradation techniques, which were also pioneered by startups like Arvinas and Kymera Therapeutics. The new funds will support the development of Halda's experimental prostate cancer drug, HLD‑0915, with plans to enter clinical trials in the first half of 2025. HLD‑0915 is designed to treat patients with metastatic prostate cancer resistant to hormone therapies, such as Xtandi. Preclinical testing has shown promising results in drug-resistant cancer models.

Kat Kayser-Bricker, Halda’s chief scientific officer, emphasized that the financing will help the company bring its selective, oral cancer treatment to patients, addressing the challenge of drug resistance. The funding round attracted new investors, including Deep Track Capital, Frazier Life Sciences, RA Capital Management, Vida Ventures, Boxer Capital, and Taiho Ventures, along with existing investors. Additionally, four new members will join Halda's board of directors as part of the transaction.