Sapience Therapeutics Announces $41 Million Series B Financing to Advance Pipeline of Peptide Therapeutics Targeting Protein-Protein Interactions
Harrison-headquartered, Sapience Therapeutics, Inc., a clinical-stage biotechnology company focused on the discovery and development of peptide therapeutics to address difficult-to-treat cancers, announced the completion of a $41 million Series B financing. The financing was led by new investor NexPoint and included participation from existing investors Bristol Myers Squibb, Eshelman Ventures and Kingdon Capital. As part of the financing, a convertible note provided by NexPoint in December 2021 was converted into Series B shares.
Sapience intends to use the proceeds from the financing to accelerate the advancement of its pipeline of peptide therapeutics designed to disrupt protein-protein interactions and drug well-validated cancer pathways. The proceeds will support the advancement of its lead program, ST101, which is currently in Phase 2 for patients with advanced solid tumors, and progress its second program, ST316, from IND-enabling studies to the commencement of a Phase 1 study. In addition, the financing will support the advancement of Sapience's platform to discover new therapies against high-value targets for difficult-to-treat oncology indications.