finance news

Bolt Biotherapeutics raises $93.5 million in a Series C funding round

Bolt Biotherapeutics raises $93.5 million in a Series C funding round
Bolt Biotherapeutics raises $93.5 million in a Series C funding round

Bolt Biotherapeutics, a renowned biotechnology company, has reportedly announced that it has secured an investment of $93.5 million from its latest Series C funding round that was led by Sofinnova Investments.

According to reports, the round observed participation of over 9 other firms including RA Capital Management and Pfizer Ventures. With these raised funds, Bolt aims to push its platform of innate immune-boosting warheads from its first trial over metastatic solid tumors and many more.

Bolt claims that the experimental drug is an immune-stimulating antibody conjugate. The idea is based on Stanford Immunologist Edgar Engleman’s concept. For the record, Engleman innovated the first-ever cancer vaccine in Provenge, a prostate cancer treatment. This cancer vaccine comprises a multi-step procedure where innate immune cells, known as dendritic cells, are extracted and added to a protein from a patient’s tumors, and then reinfused.

Randy Schatzman, CEO of Bolt Therapeutics, stated that it is elegant but also a simple molecule that is primarily an off-the-shelf therapeutic. Physicians use this molecule on their patients without any manufacturing and personalization issues that several I/O approaches today face.

The company’s extraordinary platform is developed to activate dendric cells present around tumors. This process does not need treatment, re-infusion, and renewal. The treatment is an antibody drug conjugate just like the ones manufactured by Seattle Genetics, Immunomedics, and ADC Therapeutics. Each of these drugs have an antibody such as a warhead to the tumor.

The only difference is instead of killing cells in the portion using the antibody, Bolt’s drug contains an agonist that would bind to receptors over dendritic cells and further activate them to fight the tumor. If effective, the drug would revolutionize tumor therapy, from an immuno-suppressive to the one that may kill tumors as well as prevent its recurrence.

Source credit: https://endpts.com/bolt-biotherapeutics-nabs-93-5m-to-push-provenge-inventors-new-idea-deeper-in-the-clinic/

About the author

Bhushan Tambe

A qualified computer graduate, Bhushan Tambe always nurtured a passion for words. Post his education, he decided to transform his penchant of penning down poetry and stories into a full-time career. Presently, Bhushan writes numerous articles for cuereport.com and a few other websites, on subjects spanning business, finance, and the like.