PAQ Therapeutics Secures USD 77 Million in Series B Financing to Advance KRAS Degrader Pipeline
PAQ Therapeutics, a Burlington, Massachusetts-based biotech company developing targeted protein degradation therapies, has completed a Series B financing round totaling USD 77 million. The funding will support the company's ongoing clinical development of two lead KRAS-targeting drug candidates currently in Phase 1 trials for treating advanced solid tumors.
The round attracted participation from both existing and new investors, though specific investment firms were not disclosed in the company's announcement. PAQ Therapeutics plans to use the proceeds to advance its clinical programs, particularly the pan-KRAS degrader PT0511 and the KRAS G12D-specific degrader PT0253, which are currently being evaluated in open-label, dose-escalation studies across multiple cancer indications.
The company's pipeline focuses on novel protein degradation technologies targeting KRAS mutations, which are prevalent in approximately 30% of solid tumors, including colorectal, pancreatic, and non-small cell lung cancers. PT0511 and PT0253 represent PAQ's lead assets, both currently in early-stage clinical trials. This financing builds on the company's previous funding efforts and positions it to continue exploring potentially transformative approaches to targeting historically challenging KRAS-driven malignancies.
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