On May 12, 2020 Frazier Healthcare Partners ("Frazier") reported the launch of Lengo Therapeutics, Inc. ("Lengo"), a biopharmaceutical company focused on the discovery and development of novel treatments targeting driver mutations in oncology (Press release, Frazier Healthcare, MAY 12, 2020, View Source [SID1234557620]).
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"Lengo emerged from discussions at Frazier and among a highly experienced group of oncology researchers, including Frazier Senior Advisors Roger Ulrich, Ph.D., Jim Bristol, Ph.D., Michael Gallatin, Ph.D. and Bruce Roth, Ph.D., who helped identify several mutations in cancers that we felt were not well addressed by existing therapeutics," said Tracy Saxton, Ph.D., CEO of Lengo. "We were fortunate to identify novel chemical matter discovered at Jubilant to address some of these mutations of interest."
Jubilant Life Sciences Ltd ("Jubilant") has granted an exclusive license to Lengo for the worldwide development and commercialization of a portfolio of novel chemistry against undisclosed oncology targets. In connection with the license, Lengo has completed a $15 million Series A financing round from Frazier.
Jubilant and Frazier have been working together on multiple discovery-stage companies since 2016, starting with Mavupharma which was acquired by AbbVie in 2019.
"Company formation is one of our core activities at Frazier, and Jubilant has been a key part of several of our early-stage companies," said Daniel Estes, Ph.D., General Partner on the Frazier Life Sciences team. "We are excited to advance the assets we have licensed at Lengo to the clinic as quickly as possible."
"We are pleased to be strengthening our ties with Frazier Healthcare Partners," said Shyam Bhartia and Hari Bhartia, founders of Jubilant. "We welcome the addition of Lengo to the pipeline of companies we are working on together in drug discovery."