FLX Bio raises $60M series C

Cancer company FLX Bio Inc. (South San Francisco, Calif.) raised $60 million in a series C round from new investor GV (formerly Google Ventures) and existing investors The Column Group, Kleiner Perkins, Topspin Partners and Celgene Corp. (NASDAQ:CELG). Other undisclosed investors also participated. FLX Bio expects the round to provide runway of about two years.

The company's lead candidate FLX475 is in Phase I testing in healthy volunteers. Preliminary safety and pharmacokinetic data from the trial are expected next year. In mid-2018, FLX Bio plans to start a Phase I/II trial of FLX475 as monotherapy and in combination with a checkpoint inhibitor to treat multiple types of cancer...