8:35 AM
 | 
Jul 12, 2018
 |  BC Extra  |  Financial News

With $132M series A, Compass points toward the clinic

Bispecific antibody play Compass Therapeutics LLC (Cambridge, Mass.) raised $49 million Thursday in the final tranche of its series A round, bringing the round's total to $132 million.

OrbiMed Advisers led the round. F-Prime Capital Partners, Cowen Healthcare Investments, Thiel Capital, Biomatics Capital, Ulysses Holdings, Borealis Ventures, Alexandria Real Estate Equities and BioMed Realty Ventures also participated.

Compass is using its StitchMabs high-throughput screening platform to identify bispecific antibodies. Founder and CEO Thomas Schuetz said the company plans to begin Phase I testing in 1H19 of lead candidate CTX-471 for an undisclosed cancer indication. CTX-471 targets TNF receptor superfamily members and ligands, but Schuetz declined to disclose specific targets.

Schuetz said the round will also allow the company to identify two more clinical candidates from a portfolio of 15 candidates in preclinical development.

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