Viking Global Invests in Abdera’s Combined $142M Series A and B
Gunderson Dettmer represented client Viking Global in its participation in the combined $142 million Series A and B financing of Abdera Therapeutics, a biopharmaceutical company. Abdera is leveraging its advanced antibody engineering ROVEr™ platform to design and develop tunable, precision radiopharmaceuticals for cancer. The new capital will be used to get Abdera’s first candidate into the clinic and build out its pipeline.
In the announcement of the transaction, Abdera’s president and chief executive officer Lori Lyons-Williams said, “Radiopharmaceuticals hold the potential to transform the treatment of cancer, but the ability to finely tune radioisotope delivery to the tumor, while sparing healthy tissue, remains a major challenge for this class of drugs. Abdera’s ROVEr™ platform enables the design of antibody-based radiopharmaceuticals that are ideally suited to specific cancer targets with optimized PK properties to pair with a radioisotope of choice and maximize therapeutic impact. Our goal is to leverage the power and flexibility of our platform to pursue a variety of oncology targets, advance potential best-in-class new cancer medicines and build Abdera into a leading radiopharmaceutical company.”
The Gunderson Dettmer deal team was led by Greg Volkmar and included Jess Brodman.