$155M Perceptive-led note deal enables Kronos to fund newly acquired Gilead asset’s pivotal trial

After acquiring a Phase III-ready asset from Gilead last month, Kronos raised $155 million on Monday to fund the cancer therapy’s registrational trial, slated for 2021. The funding will also enable Kronos, led by Gilead vet Norbert Bischofberger, to submit an IND for its internally developed lead compound by year-end and discover additional cancer programs targeting transcription dysregulation.

Perceptive Advisors led the convertible note financing.  Kronos Bio Inc. has received $148 million to date, with the remaining $7 million to be funded by mid-September...