eFFECTOR Therapeutics completes $38.6 million Series C financing

eFFECTOR Therapeutics (clinical-stage biopharmaceutical company) announced that the company has raised $38.6M in Series C financing. Pfizer Venture Investments (PVI) led the round and was joined by additional new investors including Alexandria Venture Investments. All existing investors participated in the round including U.S. Venture Partners, Abingworth, Novartis Venture Fund, SR One, The Column Group, Altitude Life Science Ventures, Sectoral Asset Management, Abbvie Biotech Ventures, BioMed Ventures, and Astellas Ventures. In conjunction with the financing, eFFECTOR has appointed Elaine V. Jones, Ph.D., vice president, PVI, to its board of directors.

The funds will be deployed to advance a broad Phase 2 development program for eFT508, eFFECTOR's investigational small molecule MNK1/2 inhibitor, including a combination study in colorectal cancer with avelumab (BAVENCIO), conducted under a clinical collaboration agreement between eFFECTOR, Pfizer and Merck KGaA. Additional studies to be conducted with the current financing include monotherapy studies designed to demonstrate immunological proof of mechanism in certain solid tumors and objective response in diffuse large B cell lymphoma, and a second checkpoint inhibitor combination study in solid tumors.

"The addition of Pfizer to our already strong roster of corporate investors, as well as Dr. Jones to our board, with her track record of providing guidance to emerging biotechnology companies, provides us with invaluable financial and strategic support as we advance our clinical pipeline," said Steve Worland, Ph.D., president and chief executive officer of eFFECTOR. "Our successful fundraising validates the potential we see for selective translation regulators as a new class of cancer treatment and eFFECTOR is well-positioned to capitalize on the opportunity created by this exciting technology."