Los Angeles-based biopharmaceutical company, TORL BioTherapeutics, which focuses on creating pioneering biologics for cancer treatment, has successfully completed a $158 million Series B financing round. This funding will be utilized to further develop the company’s clinical-stage antibody-drug conjugates (ADCs) and support other innovative preclinical and clinical-stage programs.
Leading the investment round was Goldman Sachs Asset Management, with additional participation from UC, Office of the Chief Investment Officer, Bristol Myers Squibb, Deep Track Capital, Vertex Ventures HC, Moore Strategic Ventures, Cowen Healthcare Investments, Perceptive Xontogeny Venture Fund, and existing investors such as Alexandria Venture Investments and OCV Partners. Amit Sinha, Head of Life Sciences Investing within Goldman Sachs Asset Management, and Lynn Seely, M.D., President and CEO of Lyell Immunopharma, will join the TORL Board of Managers as part of the Series B financing.
Co-founded by esteemed oncologist Dennis Slamon, M.D., Ph.D., from the University of California at Los Angeles (UCLA) and entrepreneur and CEO David Licata, TORL BioTherapeutics strives to transform cancer treatment by developing innovative, antibody-based therapeutics. The company’s leadership team includes respected industry veterans like Executive Chairman Mark Alles, former Chairman and CEO of Celgene Corporation.
TORL’s primary candidate, TORL-1-23, is a pioneering, clinical-stage ADC targeting Claudin 6, developed for patients with various cancer types. The company is also advancing two other clinical-stage programs: an ADC and monoclonal antibody (mAb) targeting Claudin 18.2. Additionally, TORL is actively working on an extensive pipeline of cutting-edge preclinical ADCs and mAbs for oncologic indications with high unmet medical needs. TORL BioTherapeutics has its headquarters in Los Angeles.