Zentalis Pharmaceuticals raised $85 million in Series C financing round making a total of $147 million in gross proceeds from classified financings since its founding in December 2014.
FREMONT, CA: Zentalis Pharmaceuticals announced the completion of an $85 million Series C financing on Monday. Zentalis Pharmaceuticals, which is a clinical-stage biopharmaceutical company focused on building clinically differentiated, novel small molecule therapeutics which targets fundamental pathways in cancer, has raised a total of $147 million in gross proceeds from classified financings since its founding in December 2014.
The leading investors who participated in this Series C financing were Matrix Capital, Redmile Group, Perceptive Advisors, Viking Global Investors, Farallon Capital, Eventide Asset Management, and Surveyor Capital (a Citadel company).
The proceeds, thus received from the Series C financing, will be used to advance the Company's top clinical candidates towards essential trials and to broaden the extent of Zentalis' ongoing clinical programs. The Company's product design is developed to address backlog medical requirements in large patient populations both in solid and liquid tumors.
"Zentalis is delighted to partner with its outstanding group of leading healthcare investors to drive forward best-in-class chemistry for cancer patients. In my career, I have never seen a company progress at this pace with three INDs accepted in the first five years since inception. I am very proud of our team for these remarkable accomplishments. This financing reflects strong support for our capabilities, people and pipeline," said Anthony Sun, M.D., Chief Executive Officer, Zentalis Pharmaceuticals. "The investment positions us to implement our clinical and partnering strategies around our current pipeline and to accelerate expansion of our team."
ZN-c5, the company's principal clinical product candidate, is currently in Phase 1/2 trials. ZN-c5 is a prospective best-in-class oral Selective Estrogen Receptor Degrader (SERD) for estrogen receptor-positive, HER2-negative (ER+/ HER2-) breast cancer, which influences approximately 70% of all breast cancer patients. ZN-c5 is developed for use as combination therapy or in mono-therapy. In May 2018, Zentalis signed a clinical development collaboration agreement with Pfizer Inc. to facilitate the trial of ZN-c5 in combination with Pfizer's IbranceÂ (palbociclib), a CDK4/6 inhibitor which is accepted for ER+/HER2- advanced patients of breast cancer in combination with hormonal therapies.
Zentalis is also creating ZN-c3, a next-generation DNA Damage Response (DDR) drug candidate aiming the WEE1 kinase for solid tumors. ZN-c3 is presently in Phase-1 trial.