Another ADC Developer Lands a Mega Round of Financing for Cancer Clinical Trials

Torl BioTherapeutics, a biotech company, recently secured $158 million in financing for their antibody drug conjugate (ADC) cancer therapy program, TORL-1-23. This funding will support ongoing clinical development of the program, which targets tumors expressing the protein CLDN 6, with a focus on platinum-resistant ovarian cancer. The financing was led by Deep Track Capital and included other investors such as RA Capital Management and Perceptive Advisors. Other recent biopharma industry financings include investments in companies like Obsidian Therapeutics, Alterome Therapeutics, and Avenzo Therapeutics, all working on innovative treatments for various diseases.

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