Scorpion Therapeutics, a leading oncology company, announced a successful $150 million Series C financing round to advance its precision oncology pipeline. Frazier Life Sciences and Lightspeed Venture Partners co-led the financing, with significant participation from new and existing investors.
Scorpion’s small molecule discovery engine has generated a robust pipeline, including the promising STX-478, a mutant-selective PI3Kα inhibitor targeting breast cancer and other solid tumors. The company plans to use the proceeds to further the clinical development of STX-478 as a monotherapy and in combination with standard treatments.
The strong investor demand reflects Scorpion’s clinical execution, encouraging clinical data, and the strength of its pipeline. CEO Adam Friedman, M.D., Ph.D., expressed delight in strengthening the company’s financial position and expanding its investor syndicate with notable figures in the life sciences industry.
Frazier Life Sciences’ Dr. Albert Cha praised Scorpion’s track record in developing innovative cancer therapies. He believes the company’s progress, promising pipeline and experienced leadership team position it for success in delivering effective treatments to cancer patients.
Lightspeed’s Dr. Shelley Chu commended Scorpion’s progress and highlighted the potential of STX-478 to address the limitations of existing cancer treatments. The targeted approach of Scorpion’s therapies aims to improve efficacy and safety outcomes for patients.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.
