- The funding will be used to advance its therapeutics, expand its platforms and hire talent
- Novasenta was founded in late 2018
- UPMC Enterprises is the venture arm of health system UPMC
Pittsburgh-based Novasenta Inc, a biotech startup, has raised $40 million in Series A funding. UPMC Enterprises, the venture arm of health system UPMC, led the round.
The funding will allow Novasenta to advance its pipeline of antibody-based therapeutics and expand its proprietary computational platforms for target discovery, while continuing to recruit talent.
Novasenta was co-founded in late 2018 by Dr. Robert Ferris, Dr. Dario Vignali and Dr. Greg Delgoffe, all of the UPMC Hillman Cancer Center and the University of Pittsburgh.
“With our significant Series A funding, Novasenta expects to move at least one of our three nominated programs into the clinic by 2024, with the potential to transform care for patients with solid tumors,” said Dr. Mani Mohindru, Novasenta CEO, in a statement.
Novasenta is focused on the discovery of novel therapeutic targets to develop cancer treatments. The company’s pipeline includes three programs representing the next generation of immuno-oncology targets and drug candidates.