Barcelona-based biotechnology startup Ona Therapeutics announced Thursday it raised an $86.6 million Series B round to launch a pair of antibody-drug conjugates into clinical development for breast and colorectal cancers.
Antibody-drug conjugates, or ADCs, are now a pillar of cancer care. More than 20 are approved for different tumor types, and some are now working their way into earlier treatment lines, where they might be able to supplant traditional chemotherapy. AstraZeneca and Daiichi Sankyo’s Enhertu, for example, is now a multibillion-dollar seller available in multiple breast cancer settings. Many others that are available or in development are aiming for similarly expansive use.
Newer biotechs aiming to break into the field are trying to improve the technology in one way or another. Some are working with proprietary “linkers” that connect an ADC’s targeting molecule to its toxic payload. Others are delivering different types of tumor-killing molecules, or simultaneously homing in on multiple targets.
Ona is instead focusing on new targets it believes can help address drug resistance, a strategy CEO Valerie Vanhooren says might be able to help those who haven’t responded to other therapies.
