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Elevation Oncology Secures $50 Million Loan Facility With K2 Healthventures

Elevation Oncology Secures $50 Million Loan Facility With K2 Healthventures

07/28/22, 12:52 PM
Location
https://purecatamphetamine.github.io/country-flag-icons/3x2/US.svgnew york
Money raised
$50 million
Industry
biotechnology
health care
genetics
therapeutics
Elevation Oncology, Inc. (Nasdaq: ELEV), a clinical stage biopharmaceutical company focused on the development of precision oncology products for patients with genomically defined cancers, today announced that it has secured a $50 million senior secured loan facility from funds managed by K2 HealthVentures, a leading healthcare-focused investment firm. The initial proceeds from the facility will primarily support the exclusive license of EO-3021 (SYSA1801) outside of Greater China from CSPC Pharmaceutical Group and the execution of the Company's pipeline.

Company Info

Company
Elevation Oncology
Location
new york, united states
Additional Info
Elevation Oncology is an innovative oncology company focused on the discovery and development of selective cancer therapies to treat patients across a range of solid tumors with significant unmet medical needs. We are rethinking drug development by seeking out innovative, selective cancer therapies that can be matched to a patient’s unique tumor characteristics. Our lead candidate, EO-3021, is a potential best-in-class antibody drug conjugate (ADC) designed to target Claudin 18.2, a clinically validated molecular target. EO-3021 selectively delivers a cytotoxic payload directly to cancer cells expressing Claudin 18.2. We are working to rapidly advance EO-3021 into the clinic in the US across a range of solid tumor indications, as well as exploring other opportunities through new or existing partnerships and business development opportunities to expand our novel oncology pipeline.

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