Pi Therapeutics Raises $19.7 Million

Cancer treatment company Pi Therapeutics Ltd. announced on Wednesday the completion of a $19.7 million series B financing round. The round was led by existing investor Pontifax Ltd. and participated by Quark Venture, GF Securities, Arkin Bio Ventures, CBG Asset Management, and existing investor RMGP Biopharma Investment Fund.

Founded in 2015 and based in central Israel, Pi Therapeutics develops novel modulators of protein degradation for the treatment of cancer. The company said in a statement that it will use the funding to advance its lead program, a first-in-class inhibitor of protein degradation in liquid and solid tumors, to clinical proof-of-concept.