InduPro raises $77 million, begins first human trial of cancer drug
Biotech startup InduPro, with operations in Seattle and Cambridge, Mass., raised $77 million in Series B funding as it begins a Phase 1 clinical trial of its lead cancer drug candidate, IDP-001. The company has dosed the first patient in the trial, which is enrolling adults with advanced or metastatic non-small cell lung cancer and other solid tumors that have progressed following standard treatment.
IDP-001 is an antibody-drug conjugate that targets two proteins found together on the surface of cancer cells. InduPro’s approach looks for combinations of proteins that appear near each other on cancer cells but not healthy tissue, with the goal of targeting tumors more precisely. The new funding will help advance IDP-001 through its Phase 1 trial and support additional programs focused on cancer and autoimmune diseases.
The funding gives InduPro additional resources as it brings its first program into human testing, adding to the cancer drug development underway within Washington’s biotech community.