Arix Bioscience portfolio company VelosBio closes $137m Series B
Having co-led VelosBio’s $58 million Series A in 2018, Arix Bioscience plc (Arix) now takes a deeper dive into the development of its portfolio company, the ways in which their science is on track to create innovative new drugs for use in oncology, and how it all works.
VelosBio Inc, one of six oncology portfolio companies in the Arix portfolio, raised $137m in a Series B investment round, bringing in some of the largest and most successful life sciences investment firms globally. This marks a major inflection point for a company that has been under the radar, but now has the capital and investor base to rapidly scale up its efforts in developing its first-in-class antibody drug conjugate (ADC) against the novel cancer target ROR1.
Arix Managing Director and VelosBio Board Director Jonathan Tobin writes about this exciting development.