Pyxis Raises $152M Series B Financing

March 30, 2021Client News

Gunderson Dettmer represented client Pyxis Oncology, a developer of antibody therapeutics to further improve the outcome for patients with cancer, in its $152 million Series B financing co-led by Arix Bioscience and RTW Investments. The new funding will be used to advance its differentiated portfolio of ADCs, a cancer therapeutic, and its I/O pipeline to pursue a broad range of therapeutic indications.

In the announcement of the transaction, CEO of Pyxis Lara Sullivan, M.D. said, "We are grateful for the support of these highly sophisticated investors as we strive to improve the lives of patients with difficult-to-treat cancers by progressing a diverse portfolio of potentially groundbreaking ADCs and immunotherapies. This financing strengthens our ability to build a differentiated portfolio of biologics and allows us to accelerate our efforts to advance multiple promising programs into Phase 1 clinical trials."

The Gunderson deal team was led by Tim Ehrlich and included George Pothoulakis, David Horne and Misola Ijidakinro.