Olema Oncology grabs $54M for breast most cancers program

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Olema Oncology, a biotech targeted on ladies’s cancers, raised $54 million to push its lead program into the clinic and enhance its R&D efforts in different areas.

The capital will bankroll a part half research of the asset, OP-1250, as a single agent. Olema will take a look at the drug, a whole estrogen receptor antagonist, in sufferers with ER-positive, HER2-negative breast cancers which have come again regardless of different remedies or which have unfold regionally or to different elements of the physique.

The part half dose escalation trial is slated for the second half of 2020. Research combining OP-1250 with different focused breast most cancers remedies will observe, the corporate stated in a press release.

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BVF Companions, Logos Capital and Janus Henderson Buyers led the sequence B spherical, with Cormorant Asset Administration, RA Capital Administration, Wellington Administration Firm, Citadel’s Surveyor Capital, Venrock and Foresite Capital additionally chipping in.

“We’re delighted to have the assist of this premier syndicate of traders who share our dedication to growing focused therapies designed to enhance the lives of girls dwelling with breast most cancers,” stated Olema CEO Cyrus Harmon, Ph.D., within the assertion.

“With our deep perception into the biology of breast most cancers, together with goal engagement, receptor binding and intracellular signaling, now we have fastidiously chosen OP-1250 as our lead program and are advancing it into human research,” Harmon added. “Our aim is to develop simpler medicines to deal with estrogen receptor-positive breast most cancers.”

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