Biotechnology company Janpix has closed a $10 million Series B financing led by Medicxi, an existing investor. Cambridge, Massachusetts-based Janpix, which has research center in Toronto, develops monovalent small molecule protein degraders of STAT proteins as novel therapeutics.
CAMBRIDGE, Mass., Oct. 07, 2020 (GLOBE NEWSWIRE) — Janpix Inc., a biotechnology company developing monovalent small molecule protein degraders of STAT proteins as novel therapeutics, today announced the closing of a $10 Million Series B financing. This round was led by Medicxi, which initially seeded and funded the series A of the company.
“We are very excited that Medicxi continues supporting Janpix, which shows their confidence in our molecules and platform” said Roman Fleck, CEO of Janpix Inc. “These funds will allow us to advance our first candidate into the clinic while further expanding the pipeline of STAT3 and STAT5 protein degraders and their use.”
Janpix’s lead molecule targets both STAT3 and STAT5 proteins, transcription factors whose aberrant activation is associated with tumor cell proliferation, survival and drug resistance. Both proteins individually are attractive yet difficult to address targets in cancer and their combined targeting could be synergistic. Janpix is planning to advance this program in various hematological cancers.
“Selective protein degradation is emerging as a new therapeutic paradigm and it will have a major impact on how we treat serious diseases. Janpix’s small molecules present a new modality to achieve protein degradation and will likely expand the range of proteins that can be efficiently targeted” said Sandy Zweifach, Chairman of the Board of Janpix Inc. and venture partner at Medicxi.
About Janpix, Inc.:
Janpix Inc was launched in 2017 following seed financing by Medicxi. The Company’s aim is to advance the discovery and clinical development of selective STAT monovalent degraders based on new structural insights and chemistry developed by Prof Patrick Gunning, a Canada Research Chair in Medicinal Chemistry and co-founder. Janpix has identified small molecule degraders of STAT3 and STAT5 that show therapeutic potential in a number of hematological and solid tumors. Janpix is focused on advancing pre-clinical programs into the clinic for these difficult to treat and refractory indications. For more information visit www.janpixbio.com