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Eureka Therapeutics raises $21 million in series c to expand cancer immunotherapy pipeline
Date:9/23/2014

Eureka Therapeutics, Inc. announced today that the Company has secured $21 million in a Series C Financing. The new funding will be used to expand the Company's cancer immunotherapy pipeline and advance its lead programs to clinical development. New investor Yuan Capital led the round, with participation from Majuven and all existing major investors, including Acorn Campus Ventures, Suma Venture and Harbinger Venture Capital.

Eureka is engaged in the discovery and development of fully-human antibodies engineered to mimic the functions of a T cell receptor, a key component of the immune system. These therapeutic antibodies are designed to recognize proteins residing inside of cancer cells, and mobilize a patient's immune system to recognize and kill the diseased cell.

"This new funding will allow us to expand and advance our drug pipeline, as well as explore the synergistic effects of our drug candidates with other immunotherapies and immune modulators," said Cheng Liu, PhD, President and CEO of Eureka Therapeutics. "This moves us closer to our goal of providing cancer patients with safer and more effective treatments through novel immunotherapies."

"We are pleased to have the continued confidence and support of our existing investors, and we welcome our new investors," added Dr. Liu.

Earlier this year, the Company announced a license agreement with Novartis for the development and commercialization of ESK1, a preclinical-stage monoclonal antibody for the treatment of leukemia and other cancers. The antibody, targeting the intracellular protein WT1, was developed under a collaborative effort between Eureka Therapeutics and Memorial Sloan-Kettering Cancer Center.


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Contact: Elisa Pan
admin@eurekainc.com
510-654-7045
Eureka Therapeutics, Inc.

Source:Eurekalert

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