Presage Sets the Stage for Commercial Expansion with Closing of $13M Financing and Execution of New Phase 0 Trial Agreements with Merck and Maverick Therapeutics
– Presage Biosciences closed a $13m financing and commenced new research collaborations with Merck and Maverick Therapeutics.
– The financing includes $7m raised from new investors, including the LabCorp Venture Fund, Bristol Myers Squibb, and InHarv Partners Ltd.
– An additional $6m convertible note from Takeda Ventures will convert to equity.
– The proceeds from this financing will support expansion of Presage’s existing network of clinical sites in the U.S. and Australia, as well as development of next-generation CIVO microdose injection devices designed to access a wider spectrum of cancers.
– Presage has pioneered a new approach to early evaluation of investigational cancer drugs and combinations in clinical trials with a technology that enables detailed assessment of multiple drugs simultaneously in patients with solid tumors.