Bright Peak Therapeutics secures USD 90 million in Series C funding to propel innovative immunotherapy forward

14.06.2024 17:31, Rita Longobardi

The Biotech startup Bright Peak Therapeutics, specializing in advanced immunotherapies, has successfully raised USD 90 million in Series C financing. This significant investment will accelerate the clinical development of their innovative PD1-IL18 immunoconjugate program, aimed at transforming cancer treatment.

Bright Peak Therapeutics, a biotech firm specializing in advanced, multifunctional immunotherapies, secured an impressive USD 90 million in Series C funding. The financing round was led by Johnson & Johnson Innovation JJDC, with new investors Venrock, KB Investment, and Northleaf Capital Partners also contributing. Returning investors include founding investor Versant Ventures, along with Fidelity Management & Research Company, RA Capital Management, Qatar Investment Authority, Invus, and Alexandria Venture Investments.

The funds from the Series C round will be used to develop new immunotherapy treatments and start clinical trials for BPT567—a new drug designed to help the immune system fight cancer more effectively. In preclinical studies, BPT567 showed strong anti-tumor effects by blocking PD-1 (Programmed cell death protein 1) and focusing the powerful inflammatory action of IL-18 (Interleukin 18) on T cells within the tumor area, while avoiding activation of immune cells elsewhere in the body.

Bright Peak Therapeutics was ranked among the TOP 100 Swiss Startups in 2022.

Bright Peak Therapeutics team