Pheon Therapeutics has completed a $120 million Series B fundraising round to support the development of its differentiated ADC portfolio

Additional funding will drive Pheon’s ADC pipeline towards clinical validation, targeting undisclosed solid cancer overexpressed targets

The initial program showed promising preclinical efficacy with a DAR8 Topoisomerase-1 inhibitor linker-payload, with subsequent ADCs exploring various linker-payload technologies for this target

Pheon plans to begin its first Phase 1 clinical trial in 2024, followed by dosage expansion cohorts

The funding will also support the expansion of in-house technological platforms for efficient ADC development