Avenzo Therapeutics Raises $150M Series A1- Financing

Avenzo Therapeutics, Inc., a San Diego, CA-based clinical-stage biotechnology company developing next generation oncology therapeutics, closed a $150m Series A-1 financing.

The round, which brought total funding raised to date $347m, was led by New Enterprise Associates (NEA), Deep Track Capital, Sofinnova Investments, and Sands Capital, with participation from new investors INCE Capital, TF Capital, Delos Capital, and Quan Capital. In conjunction with the announcement, Jakob Dupont, M.D., Executive Partner, Private Equity, Sofinnova Investments, will join the Avenzo Board of Directors.

The company intends to use the funds to advance its oncology pipeline which is led by AVZO-021, a potentially best-in-class cyclin-dependent kinase 2 (CDK2) selective inhibitor.

Founded in August 2022 and led by Athena Countouriotis, M.D., President and CEO, Avenzo Therapeutics is a clinical-stage biotechnology company focused on developing the next generation of oncology therapies for patients. The company’s lead drug candidate, AVZO-021, is a novel, highly potent and selective inhibitor of CDK2, a key enzyme involved in cell cycle regulation. AVZO-021 is being studied in a Phase 1 study in the U.S. for the treatment of advanced solid tumors.