Mersana raises $27M to advance Fleximer antibody-drug conjugates

Wednesday, August 1, 2012 11:34 AM

Mersana Therapeutics, a Cambridge, Mass.-based biopharmaceutical company developing Fleximer antibody-drug conjugate (ADC) platform, has closed a $27 million Series A-1 financing led by new investor New Enterprise Associates (NEA).

The proceeds from this financing will be used to advance Mersana's Fleximer-based ADC technology and to generate a pipeline of proprietary next-generation ADCs. In conjunction with the investment, NEA general partner David Mott will become chairman and Sara Nayeem, M.D., principal at NEA, will become a director. Mersana is the first biopharma investment for the recently announced $2.6 billion NEA 14 fund.

“Mersana's Fleximer antibody-drug conjugate platform has the potential to lead the emergence of the next generation of antibody-drug conjugates, which address limitations of the prior technologies and offer tremendous benefits to patients,” said Mott. “Mersana's technology enables a broader diversity of targeting agents, linkers, drugs and drug payloads, while allowing half-life, internalization and release parameters to be optimized for each product."

Mott added, "With the validation of the antibody-drug conjugate field behind us and tremendous potential ahead, we believe Mersana is uniquely positioned to capitalize on the drug development opportunities and surging strategic interest in the ADC field."

Participation in the round of financing also included new investor Pfizer Venture Investments and existing investors Fidelity Biosciences, ProQuest Investments, Rho Ventures and Harris and Harris Group.

Share:          
CLINICAL TRIAL RESOURCES

Search:

NEWS ONLINE ARCHIVE

Browse by:

CWWeekly

April 14

Proposal calls for back-to-back trials to measure efficacy and effectiveness prior to FDA approval

Study: Minority populations under-represented in cancer trials, but have higher rates of incidence

Already a subscriber?
Log in to your digital subscription.

Subscribe to CWWeekly.

The CenterWatch Monthly

April

Make way for mobile health in clinical trials
Despite patient retention, data quality benefits, regulatory hurdles persist

Global clinical trial laboratories decentralize
Regional labs reducing complexity, delivering cost and time savings

Already a subscriber?
Log in to your digital subscription.

Purchase the April issue.

Subscribe to
The CenterWatch Monthly.

The CenterWatch Monthly

March

Strategic alliances hit bumps in the road
Mixed relationship performance driving new approaches

Tapping community hospitals for clinical trial volunteers
New study finds high potential but infrastructure, resources are lacking

Already a subscriber?
Log in to your digital subscription.

Purchase the March issue.

Subscribe to
The CenterWatch Monthly.

JobWatch centerwatch.com/jobwatch

Featured Jobs