Mark Alles has quickly put together a megaround for his latest venture, and it’s for the most sought-after pocket of oncology R&D: antibody-drug conjugates.
The former Celgene CEO became chief executive of TORL BioTherapeutics three months ago, and on Wednesday the company unveiled a $158 million Series B-2.
The five-year-old Los Angeles startup is among a rising cohort of drug developers attempting to create the next generation of ADCs, an iterated form of chemotherapy that aims to reduce toxicity, enhance efficacy and spare healthy cells. Nearly every major drugmaker has bought its way into the space in the past few years, if they weren’t in it already.
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