Ikena Oncology and Senti Biosciences Each Raise Series B Rounds
Posted on 01/07/2021
Ikena Oncology, Inc. is a clinical-stage biotechnology company that seeks to discover and develop patient-directed, biomarker-driven cancer therapies. Ikena Oncology announced the closing of US$ 120 million in a Series B financing round. The round was led and syndicated by Omega Funds and included participation from additional new investors: Fidelity Management & Research Company, LLC, Surveyor Capital (a Citadel company), Invus, Farallon Capital Management, BVF Partners, L.P., Cowen Healthcare Investments, Logos Capital, and HealthCor Management. Existing investors Atlas Venture, OrbiMed, and Bristol Myers Squibb all participated in the round. Ikena intends to use the proceeds from this financing to advance its pipeline of targeted oncology therapies, including its novel development candidate TEAD inhibitor IK-930, and a new first-in-class preclinical program targeting KRAS signaling.
In connection with this financing, Otello Stampacchia, Ph.D., Managing Director of Omega Funds, will join Ikena’s Board of Directors. Ikena announces that IK-930, which targets the Hippo pathway, has entered IND-enabling studies. IK-930 is a potent, selective, and orally bioavailable TEAD inhibitor that has shown favorable pharmacokinetics, pharmacodynamics, and anti-tumor activity in preclinical cancer models harboring Hippo pathway mutations.
Jefferies LLC acted as placement agent for the financing.
In another deal, Senti Biosciences, a San Francisco-based gene circuit company, raised US$ 105 million in Series B funding. Leaps by Bayer led the round and was joined by investors including Matrix Partners China, Mirae Asset Capital, Ridgeback Capital, and Intel Capital. Leaps by Bayer is the impact investment arm of Bayer AG. Existing investors, including New Enterprise Associates (NEA), 8VC, Amgen Ventures, and Lux Capital, also participated in the round.