VentiRx raises $50M

Cancer research firm VentiRx Pharmaceuticals has raised $50 million in funding to develop its lead investigational agent, motolimod, for ovarian and head and neck cancers.

The Seattle-based biopharmaceutical company announced the funding earlier this month, but a U.S. Securities and Exchange Commission filing has now identified the amount of the investment.

VentiRx is developing treatments that activate immune cells to fight cancer, and the company will use the funds for continued research of its immune-oncology agent, motolimod (VTX-2337).

Companies backing VentiRx include Frazier Healthcare Ventures, Arch Venture Partners, Domain Associates, MedImmune Ventures, and publicly traded firm Celgene.

VentiRx has also reached collaboration agreements with Ludwig Cancer Research and the Cancer Research Institute.

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