ARTICLE | Finance

Turning Point team quietly reforms at Avenzo, raises $196M

Led by Athena Countouriotis, cancer start-up hopes to build pipeline by in-licensing ADCs, bispecifics or small molecules

May 25, 2023 10:02 PM UTC

In the wake of Turning Point’s $4.1 billion acquisition by BMS, a group of the biotech’s former employees has quietly formed new oncology start-up Avenzo and drawn the backing of a five-VC syndicate with $196.5 million.

The San Diego-based biotech remains in stealth mode, but co-founder, Chairperson, President and CEO Athena Countouriotis told BioCentury that Avenzo Therapeutics Inc. is looking to build a pipeline of preclinical or early clinical antibody-drug conjugates, bispecifics and small molecules...