23 April 2018 - - Durham, North Carolina-based oncology-focused biotechnology company Grid Therapeutics has closed its series B financing, the company said.
Grid will use the proceeds from the financing to accelerate and expand the development of Grid's lead therapeutic candidate, GT103, for the treatment of solid tumors, and to prepare for clinical trials in cancer patients scheduled to commence in early 2019.
Grid's foundation is the innovative science developed by Edward F. Patz, Jr., MD, and his team of scientists at Duke University Medical Center.
Grid's series B financing was led by Milestone Holdings, a California-based venture company boasting a strong history of identifying and funding companies developing disruptive technologies with revolutionary intellectual property.
Grid's unique platform is based upon a groundbreaking approach of identifying specific tumor immunoglobulin G antibodies from cancer patients with exceptional outcomes. Its unique strategy obtained the sequence and isolated its lead IgG3 antibody directly from cancer patients' single B cells, which will modulate the immune system to kill tumors without known side effects.
Grid Therapeutics is a biotech company based on the innovative platform for discovering and isolating human derived antibodies. GT103, the company's lead asset, will begin a Phase 1 clinical trial in cancer patients with advanced-stage solid tumors.