Founded in 2020, Scorpion is agnostic about the potential therapies and targets it will explore with what it describes as its drug-hunting engine. But the company is hoping to unveil its first drug candidate this year.
The San Francisco-based company aims to complete at least one Phase III study by 2025, and it is weighing an IPO next year to fund more.
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The deal will broaden Merck's oncology portfolio as it picks up an antibody-drug conjugate, a class of biological drugs that target tumor cells even as the pharma giant jettisons other parts of its business
The company has raised $148 million so far and plans to raise the remaining $7 million by next month. Its lead candidate is entospletinib, a SYK inhibitor acquired as part of a deal with Gilead Sciences last month, under development for patients with biomarker-defined acute myeloid leukemia.
The company is currently running a Phase I study of its lead candidate, the antibody-drug conjugate VLS-101, in patients with lymphomas and leukemias. It has two additional antibody-drug conjugates and a bispecific antibody in preclinical development.
The Seattle-based company is one of several that have raised venture capital and equity investment funding this week.
Zelis CEO Amanda Eisel shares her perspective on how the company is solving the problems of a fragmented health financial system to benefit all.
The company hopes the funding will move it toward the clinic. Active clinical programs of gene therapies in Parkinson's include efforts by Voyager Therapeutics and a university in Japan.
Led by two Kite founders, the company launched with $300 million in VC funding in April and plans a registration trial of Servier's UCART19 and clinical development of its own allogeneic CAR-Ts next year.