Biopharmaceutical Firm eFFECTOR Therapeutics Receives $38.6 Million Series C Financing
eFFECTOR Therapeutics, a clinical-stage bio pharma ceutical company, receives its series C financing worth $38.6 Million led by Pfizer Venture Investments(PVI). New investors - Alexandria Venture Investments along with existing investors - U.S. Venture Partners, SR One, Altitude Life Science Ventures, Astellas Ventures and others, also made significant contribution to this round.eFFECTOR Therapeutics will use this fund to advance a broad phase two development program for eFT508, eFFECTOR’s investigational small molecule MNK1/2 inhibitor, including a combination study in
colorectal cancer with avelumab*(BAVENCIO), conducted under a clinical collaboration agreement between eFFECTOR, Pfizer and Merck KGaA. This fresh capital will also enable company to advance eFT226 into the clinic (FY2018) and discovery pipeline, along with a program targeting eukaryotic initiation factor 4E (eIF4E), which is expected to enter preclinical development in 2018
After this financing, Dr. Elaine V. Jones, Vice President, PVI will join eFFECTOR’s board of directors. “PVI is delighted to further support eFFECTOR’s efforts to develop a promising novel class of investigational compounds for the treatment of cancer by leading this Series C financing,” avers Dr. Jones.
eFFECTOR Therapeutics is pioneer in the discovery and development of selective translation regulators as a new class of small molecule therapeutics for cancer. The company’s investigational compounds are designed to restore translational control to halt underlying disease mechanisms while preserving healthy physiological processes. Company also has additional selective translation regulator programs (discovery & development) and maintains global rights for all of its development programs. “Our successful fundraising validates the potential we see for selective translation regulators as a new class of cancer treatment and eFFECTOR is well-positioned to capitalize on the opportunity created by this exciting technology”, claims Dr. Steve Worland, President & CEO, eFFECTOR Therapeutics.
After this financing, Dr. Elaine V. Jones, Vice President, PVI will join eFFECTOR’s board of directors. “PVI is delighted to further support eFFECTOR’s efforts to develop a promising novel class of investigational compounds for the treatment of cancer by leading this Series C financing,” avers Dr. Jones.
eFFECTOR Therapeutics is pioneer in the discovery and development of selective translation regulators as a new class of small molecule therapeutics for cancer. The company’s investigational compounds are designed to restore translational control to halt underlying disease mechanisms while preserving healthy physiological processes. Company also has additional selective translation regulator programs (discovery & development) and maintains global rights for all of its development programs. “Our successful fundraising validates the potential we see for selective translation regulators as a new class of cancer treatment and eFFECTOR is well-positioned to capitalize on the opportunity created by this exciting technology”, claims Dr. Steve Worland, President & CEO, eFFECTOR Therapeutics.
