Halda Therapeutics, a US-based biotechnology company developing cancer therapeutics, has announced the closing of a $126 million series B extension. The fundraise was backed by new investors Deep Track Capital, Frazier Life Sciences, RA Capital Management, Vida Ventures, Boxer Capital and Taiho Ventures, as well as existing investors Canaan Partners, Access Biotechnology, Elm Street Ventures, and Connecticut Innovations.
Halda Therapeutics is developing a novel drug modality called RIPTAC (regulated induced proximity targeting chimeras) that is designed to bypass drug resistance, which is a common challenge for precision cancer therapeutics. RIPTAC therapeutics work by bringing together two proteins: one that is specific to cancer cells and one that has an essential function for the cell’s survival. This “hold and kill” mechanism leads to the death of cancer cells while sparing healthy tissue where the cancer-specific protein is not present
“This financing will enable us to bring to patients our oral, selective, and widely applicable cancer cell-killing mechanism that is designed to overcome drug resistance, which is a major shortcoming of many current standard of care cancer treatments,” said Kat Kayser-Bricker, Chief Scientific Officer of Halda Therapeutics.
Clinical trials in prostate cancer and breast cancer
The company is planning to initiate clinical trials in prostate cancer and breast cancer, focusing on metastatic tumors where drug resistance to standard of care treatments is common. A first phase 1 clinical trial with the lead RIPTAC therapeutic, HLD-0915, in patients with metastatic castration-resistant prostate cancer (mCRPC), is expected to begin in the first half of 2025.
The series B fundraising will also support the clinical development of a second RIPTAC therapeutic intended for the treatment of metastatic breast cancer. Additionally, Halda Therapeutics plans to use part of the proceeds to fund the growth of its team and to develop additional products from the RIPTAC platform in other indications.
“Novel mechanisms are desperately needed to address resistance to standard of care therapies across a number of tumor types. RIPTAC therapies offer an ability to selectively kill cancer cells based on differential protein expression in orally bioavailable medicines. This innovation has the potential to treat both advanced cancer patients with heterogeneous resistance adaptations, as well as patients with earlier stages of disease,” said Joe Cabral, Principal at Frazier Life Sciences.
