Effector expands series B round

Effector Therapeutics Inc. (San Diego, Calif.) raised an additional $16 million in series B funding, bringing the round's total to $56 million. The new funds came from new investor Sectoral Asset Management, as well as existing investors. Effector said in December it raised $40 million from investors including Altitude Life Science Ventures, AbbVie Biotech Ventures and BioMed Ventures (see BioCentury, Jan. 4).

Effector's lead compound, eFT508, is in a U.S. Phase I/II trial to treat advanced solid tumors. This half, the company plans to submit an IND for eFT508 in lymphoma. ...