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Funding the Future of Cancer Research: The Parker Institute for Cancer Immunotherapy Awards Nearly $3 Million to Six Early Career Researchers
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Presage Biosciences raises $13M and inks new deal with Merck for cancer drug tests
March 4, 2021 at 3:30 pm
Presage CEO Richard Klinghoffer. (Presage Photo)
New funds, new partners: Seattle’s Presage Biosciences announced $13 million in funding as well new collaborations with biotech giant Merck and California-based Maverick Therapeutics. Presage is a biotech device company that has built a platform for testing new cancer drugs used to treat tumors.
Presage has existing partnerships with healthcare heavy hitters Takeda Pharmaceutical, Celgene and Bristol Myers Squibb (BMS). The company has raised a total of $35 million in equity, and this its first venture round.
Quicker, cheaper drug screening: Before a cancer drug is given to patients in phase I trials, it’s first tested in the lab. But many of the drugs that appear to hold promise in that setting don’t perform well when marshaled against actual tumors in people.