Funding co-led by the Bill & Melinda Gates Foundation and Amplitude Ventures to advance a new class of multifunctional biologics
Sidley represented Radiant Biotherapeutics, a preclinical biotechnology company developing an antibody platform to deliver transformative therapies for patients facing life-changing disease, in its US$35 million Series A financing. The round was co-led by the Bill & Melinda Gates Foundation and Amplitude Ventures of Canada. Additional participants in the Series A include new investors BDC Capital, the investment arm of the Business Development Bank of Canada, through its Thrive Venture Fund, and abrdn, an investment fund managed by abrdn Inc.; and existing investors FACIT, Alexandria Venture Investments and Toronto Innovation Acceleration Partners (TIAP).
Radiant has built a best-in-class, proprietary, multivalent, multi-specific antibody platform called Multabody™. The funds will enable Radiant to further develop the company’s lead clinical candidate, 4-1BB, and move it towards clinical trials. Multabody™ therapeutics are able to overcome the shortcomings of existing antibody approaches by leveraging remarkable avidity, or binding strength, on their intended targets. Multabodies also exploit multi-specificity, enabling targeting of different disease-modifying proteins as well as multiple epitopes on the same target. Together, these qualities give Multabody™ therapeutics exceptional potency against both solid tumors and blood cancers, infectious disease pathogens, and other targets in multiple therapeutic areas.
The team was led by Asher M. Rubin (Technology and Life Sciences Transactions), and Alison M. Lehner (Emerging Companies and Venture Capital), and included Peiyu Yu, and Tong Tong (M&A).
For additional information, please see the press release.
