Singapore-based S*BIO has garnered $26 million in its second round of venture capital. That money will go to advancing its two lead drug candidates: SB939, an HDAC inhibitor, and SB1518, a JAK 2 inhibitor, both in Phase I clinical trials. SB939 belongs to a new class of targeted anti-cancer therapeutics. SB1518 is a small molecule JAK2-selective kinase inhibitor which has potency against both the wild type JAK2 kinase and the JAK2 kinase with the V617F mutation.
The Series B was led by Bio*One Capital and new investor Aravis Venture. Additional new investors included the Lacuna Apo BioTech Fund advised by Adamant Biomedical Investments AG and Zurcher Kantonalbank.
"This financing round is a recognition of the progress we have made in rapidly and effectively developing our compounds. We look forward to having our lead compounds tested in Singapore, U.S. and other international trial sites and advancing them further into Phase 2 development," said CEO Dr. Jan-Anders Karlsson.
- check out S*BIO's release