Nuvalent, a Cambridge biotech working on precision cancer drugs, has raised another $135 million in venture capital just four months after the firm was launched with $50 million in financing.
The startup is developing lung cancer drugs that rely on enzyme blockers known as kinase inhibitors to help keep cancer cells from growing. Nuvalent hopes to use cash from the second round of financing to advance two potential drugs into clinical trials.
Nuvalent also recently announced the appointment of Dr. Christopher Turner, an oncology expert and former vice president of clinical development at Cambridge-based Blueprint Medicines, as chief medical officer.
“The milestones that we announced today support our significant achievements since our public launch in January 2021 and the tremendous potential that we believe Nuvalent has,” said James Porter, the company’s chief executive.
The technology behind Nuvalent’s scientific approach was developed with guidance from Matthew Shair, a professor of chemistry and chemical biology at Harvard University. He serves as founder, head scientific adviser, and a member of the board of directors.
The latest financing round was led by Bain Capital Life Sciences with participation from the founding investor Deerfield Management, and 10 new investors, including Fidelity Management and Research Company, Wellington Management Company, and Viking Global Investors. Dr. Andrew Hack, a managing director at Bain, will join Nuvalent’s board of directors.
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