Silverback raises $78.5M series B to send innate immunity activating therapies to clinic

As Silverback prepares to enter the clinic this year with its lead antibody-based cancer therapy, the biotech raised $78.5 million in a series B. U.S. Venture Partners, which led the round, was drawn to the potential of the therapy to stimulate the innate immune system through systemic delivery.

New investors Nextech Invest, Hunt Investment Group, Pontifax Venture Capital, Colt Ventures and NS Investment also participated in Silverback Therapeutics Inc.’s oversubscribed round, as did existing investors OrbiMed Advisors, Bristol Myers Squibb Co. (NYSE:BMY) and Alexandria Venture Investments. ...