Convergent Therapeutics Secures $90M in Series A Investment
Cambridge-based clinical-stage biotech firm focuses on novel radioantibodies to treat advanced prostate cancer
Convergent Therapeutics, a clinical-stage biotechnology organization based in Cambridge, MA, has successfully raised $90 million in Series A financing. The funding round was led by OrbiMed and RA Capital Management, with additional participation from Invus.
The company plans to utilize the funds to develop a pipeline of innovative radioantibodies, focusing on its leading program, CONV01-α, aimed at treating advanced prostate cancer. Established by Drs. Philip Kantoff and Neil Bander, Convergent Therapeutics is dedicated to creating radiopharmaceutical therapies for prostate cancer and other malignancies.
CONV01-α is a monoclonal antibody conjugated to actinium-225 (Ac-225), a radioactive alpha particle emitter, specifically engineered to bind to the prostate-specific membrane antigen (PSMA). A crucial functional aspect of CONV01-α is its ability to become internalized once it binds to PSMA, thereby delivering its radioactive payload directly to prostate cancer cells while minimizing harm to nearby healthy tissue. CONV01-α holds the potential to become the first Ac-225 radioantibody approved for use in prostate cancer treatment.