K36 Therapeutics Announces $70M Series B Financing To Fund Clinical Proof Of Concept Of KTX-1001, First-In-Class Inhibitor Of MMSET For Treatment Of Multiple Myeloma Patients With Genetic Translocation (4;14)
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K36 Therapeutics has raised $70M in a Series B financing round to fund clinical proof of concept of KTX-1001, a first-in-class inhibitor of MMSET for treatment of multiple myeloma patients with genetic translocation (4;14). The round was led by Nextech Invest, with participation from Bristol Myers Squibb Company (NYSE:BMY) and other undisclosed investors. The funds will support the ongoing Phase 1 study of KTX-1001 and its expansion into additional hematological and solid tumor indications.
June 28, 2023 | 12:14 pm
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Bristol Myers Squibb participated in the $70M Series B financing round of K36 Therapeutics. The funds will be used to advance the clinical studies of KTX-1001, a treatment for multiple myeloma.
Bristol Myers Squibb's investment in K36 Therapeutics could potentially lead to advancements in the treatment of multiple myeloma, which could enhance BMY's portfolio and potentially increase its market share in the oncology sector. This could have a positive impact on BMY's stock in the short term.
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