ARTICLE | Finance

HotSpot heads for clinic with $65M series B round to develop allosteric modulators

With strategics, one crossover on board, HotSpot is likely to raise mezzanine round before exploring IPO

May 21, 2020 11:05 AM UTC

Allostery company HotSpot has added strategic and crossover investors to the mix for a $65 million series B round designed to take two small molecules into the clinic, but the company believes it will still take a mezzanine round to clear the path for an IPO.

On Thursday, HotSpot Therapeutics Inc. said SR One led the series B funding, which included new investors Tekla Capital Management, MRL Ventures Fund, Solasta Ventures and Brace Pharma via its Cleva Pharma affiliate, as well as founding investors Atlas Venture and Sofinnova Partners...