ARTICLE | Financial News

Cancer play Blend raises $21M

January 8, 2015 2:42 AM UTC

Cancer company Blend Therapeutics Inc. (Watertown, Mass.) raised $21 million through an undisclosed combination of equity and debt. The equity portion -- an extension of a series B round -- came from existing investors Flagship Ventures; New Enterprise Associates; and NanoDimension; and new investor Eminent Venture Capital. An undisclosed institutional investor provided the debt financing.

Separately, Blend obtained exclusive rights to a bipodal biologic targeting ligand technology for use in cancer from an undisclosed private biotech. Financial terms were not disclosed. Blend is using the ligands in its new Pentarin platform, with which it conjugates targeting ligands to therapeutic payloads to create miniaturized biologic drug conjugates (mBDCs), then encapsulates them in nanoparticles. ...