The financing will support the development of a pipeline of novel radioantibodies, including Convergent’s lead program with CONV01-α, for the treatment of advanced prostate cancer.
The Cambridge, Massachusetts-based firm’s series A was led by and RA Capital Management and included participation from Invus.
In addition to initiating the next phase of clinical development for CONV01-α, Convergent is pursuing additional radioantibody targets to treat cancer. The company is currently evaluating other in-licensing and pipeline acquisition opportunities.
"While considerable progress has been made in the search for effective treatments for prostate cancer, it continues to be the second leading cause of cancer death in men, representing a significant unmet need," said Dr. Kantoff, CEO of Convergent.
"This financing is an important milestone for Convergent and accelerated development of novel radioantibodies, beginning with CONV01-α."
“We view this program as a best-in-class, targeted treatment for prostate cancer and will be advancing CONV01-α clinical development over the immediate term.”
The biotech firm emerged in 2020, founded by Dr. Kantoff and Dr. Neil Bander, with the latter serving as chief scientific adviser at the company.
Dr. Bander and his colleagues were the first to validate prostate-specific membrane antigen (PSMA) as a target in cancer and both founders have years of experience in oncology, particularly prostate cancer research.