Vivace in $40M financing raised in two venture rounds, investors from U.S. and ChinaJune 28, 2017
Vivace Therapeutics, an oncology-focused portfolio-based drug discovery and development company is coming out of stealth with $40 million raised in Series A and B financings.
The company says it brings together leading scientists, investors and executives from the U.S. and China for a capital-efficient approach to developing novel cancer treatments.
The $25 million Series B was led by new investor Cenova Capital and included Sequoia Capital China and existing investors Canaan Partners, WuXi Healthcare Ventures and Mission Bay Capital. Canaan Partners and WuXi Healthcare Ventures co-led the company’s $15 million Series A in 2015.
The company said it is initially concentrating on inhibitors of the Hippo-YAP signaling pathway, which plays a crucial role in cell development, and genetic mutations of the pathway give rise to a variety of cancers. Hippo-Yap pathway expert and Vivace scientific co-founder, Dr. Kun-liang Guan of the University of California, San Diego, recently discovered additional potential immuno-oncology applications by activating the pathway. Vivace said it is exploring both inhibition and activation of the pathway.
Furthermore, the company said it was also developing novel therapeutic antibodies — called BINspecific antibodies that bind in a nearly irreversible and cell-type specific manner to target cells. According to Vivace, these antibodies can achieve super potent inhibition and cellular selectivity of specific targets, creating a superior therapeutic index.
“We are pleased with the progress Vivace has made since we and Canaan Partners co-founded the company in 2015,” said Edward Hu, Founding Partner of WuXi Healthcare Ventures and a founding member of Vivace’s board of directors.
“These are novel, high impact programs where we can show activity in Phase 1 in molecularly selected patients, giving us an early development read on these transformative therapies,” said Tim Shannon, M.D., General Partner at Canaan and a founding member of Vivace’s board of directors.