Pheon raises $120M for ADC Clinical Trials

Pheon Therapeutics, a business based in the United Kingdom, has secured $120 million in a second round of funding to support research studies for its antibody-drug conjugate (ADC) cancer pipeline.

With the money raised, Pheon intends to get 3 ADC prospects closer to validation of the idea. According to the business, “an undisclosed novel target which is highly overexpressed in a wide range of solid tumours” would be the focus of the ADCs.

In 2024 there will be the beginning of the initial phase of the study, with the goal of “rapidly advancing” towards dosage escalation groups. Pheon revealed little information about the ADC.