ProfoundBio nabs $55M to advance ADC portfolio

By The Science Advisory Board staff writers

July 12, 2021 -- Oncology biotherapeutics company ProfoundBio has secured $55 million in funding that it plans to use to further develop its antibody-drug conjugate (ADC) portfolio, which includes a number of solid tumor-targeting candidates.

The series A funding round was led by Lilly Asia Venture and co-led by Lyfe Capital, with support from Sequoia Capital China and Oriza, according to the firm. ProfoundBio has offices in Seattle and Suzhou, China.

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