NEW YORK – Bolt Biotherapeutics said on Wednesday that it closed a $93.5 million Series C financing round led by Sofinnova Investments.
New investors, including RA Capital Management, Surveyor Capital, Rock Springs Capital, Samsara BioCapital, and Pfizer Ventures, participated in the funding round alongside existing investors Novo Holdings, Vivo Capital, Pivotal bioVenture Partners, and others.
The new funding will help Bolt further advance is lead immune-stimulating antibody conjugate BDC-1001. Earlier this year, the company initiated a Phase I clinical trial for BDC-1001 in HER2-expressing solid tumors.
The molecule comprises trastuzumab (Genentech's Herceptin) attached to a toll-like receptor 7/8 agonist payload that the company invented. Bolt refers to this novel type of molecule as a Boltbody. It is administered as a monotherapy in patients and is intended to stimulate the patient's innate immune system to go after cancer cells.
Bolt plans to use the recently raised funds to expand its pipeline of Boltbody therapeutics. The company said it is on track to nominate its next clinical candidate later this year.
Since its founding in 2015, Bolt has raised more than $170 million.