Silverback Therapeutics Raises Series B Round
Posted on 03/11/2020
Seattle-based Silverback Therapeutics is a developer of immune-modulating drug conjugates. The company raised US$ 78.5 million in Series B funding. California-based U.S. Venture Partners led the round, and was joined by Nextech Invest Ltd., Hunt Investment Group, Pontifax Venture Capital, Colt Ventures LP, NS Investment, and return backers OrbiMed Advisors LLC, Bristol-Meyers Squibb, and Alexandria Venture Investments, LLC. According to the release, “Silverback will use the proceeds to support ongoing development of SBT6050, an anti-HER2 antibody conjugated to a potent TLR8 agonist for the treatment of HER2-expressing solid tumors, and to advance its pipeline of ImmunoTAC™ programs.”
Along with the financing, Jonathan Root, M.D., general partner at U.S. Venture Partners, and Thilo Schroeder, Ph.D., partner at Nextech Invest Ltd., have joined Silverback’s board of directors.