On September 7, 2023 Mariana Oncology Inc., a biotechnology company pioneering a new era of radiopharmaceutical innovation to treat cancers with high unmet need, reported the closing of an oversubscribed $175 million Series B financing co-led by Deep Track Capital and Forbion (Press release, Mariana Oncology, SEP 7, 2023, View Source [SID1234635016]). Founding investors Atlas Venture, Access Biotechnology and RA Capital Management are joined by additional new investors Nextech Invest, Surveyor Capital (a Citadel company) and Eli Lilly and Company. Proceeds from the financing will support the advancement of Mariana Oncology’s novel portfolio of precision, next-generation radiopharmaceuticals including its lead candidate, MC-339, as the company transitions into a clinical-stage organization.

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"The support of such a strong syndicate of new and existing investors is a testament to Mariana Oncology’s potential," said Simon Read, Ph.D., Founder and Chief Executive Officer of Mariana Oncology. "In just 18 months since our Series A, we’ve leveraged our deep expertise in peptide discovery and radiochemistry to advance a diversified portfolio of novel molecules. The proceeds from this financing support the advancement of our pipeline and the initial development of our lead candidate, MC-339, which we anticipate will enter the clinic in 2024 in small cell lung cancer, supported by our own GMP radiopharmaceutical manufacturing."

"Radiopharmaceuticals are now being recognized as a logistically viable treatment modality that have demonstrated safety and a high degree of efficacy. These therapies are transforming care for select cancers and are primed to do so across a broader set of indications," said Rebecca Luse of Deep Track Capital. "Mariana Oncology’s pipeline is innovative and differentiated from most existing radiopharmaceutical companies. We are compelled by the broader opportunity for radiopharmaceuticals beyond prostate cancer and look forward to supporting Mariana Oncology’s success along with their seasoned leadership team and strong syndicate."

"The promising nature of Mariana Oncology’s pipeline is particularly exciting when we look at the possible positive impact on patients," said Geert-Jan Mulder, M.D., Managing Partner of Forbion. "MC-339 has the potential to transform the treatment of small cell lung cancer with the targeted delivery of an actinium payload leveraging the advantages of peptides for enhanced tumoral distribution. We look forward to Mariana Oncology’s evolution into a clinical-stage company with the potential to efficiently deliver an effective new standard of care to patients in the future."

In conjunction with this financing, Rebecca Luse from Deep Track Capital and Geert-Jan Mulder, M.D., from Forbion will join the Board of Directors.