Accent Therapeutics, a Cambridge, Massachusetts-based biopharmaceutical company developing cutting edge treatments for cancer patients, has completed a $63 million Series B round of financing
Fremont, CA: Accent Therapeutics, a Cambridge, Massachusetts-based biopharmaceuticalcompany developing cutting edge treatments for cancer patients, has completed a $63 million Series B round of financing. The financing round was led by EcoR1 Capital with participation by The Mark Foundation for Cancer Research, NS Investment, GV, AbbVie Ventures, and Droia Ventures as well as existing investors, Atlas Venture and The Column Group. Accent intends to use the proceeds from the financing to advance the development of its novel therapies targeting RNA-modifying proteins (RMPs), including its lead programs ADAR1 and METTL3, and to continue the expansion of its pipeline in the productive target space of RNA modification.
"We are thrilled to have the support of this remarkable group of investors that share our vision for developing novel therapies for patients in need," said Shakti Narayan, Chief Executive Officer of Accent Therapeutics. "With the progress we have made to-date and expect to make in the coming months, the next phase of the Accent's growth is set to be truly transformational."
"Opportunities to have such a broad impact in novel areas of biology are becoming increasingly rare," said Oleg Nodelman, Founder and Managing Director of EcoR1 Capital. "The team at Accent is well-positioned to lead this area of drug development and achieve the rich therapeutic potential of these exciting programs."
Accent officially launched back in May 2018 with a considerable amount as the investment in the bank to develop cancer treatments based on epitranscriptomics, stability, function, and translation in cell biology.