On January 22, 2026 PAQ Therapeutics, a clinical-stage oncology company developing novel targeted protein degradation therapies for KRAS-driven cancers, reported the closing of a Series B extension, bringing the company’s total Series B financing to $77 million, and the dosing of the first patient in a Phase 1 clinical trial evaluating PT0511, the company’s pan-KRAS degrader.
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The Series B extension builds on PAQ’s previously announced Series B financing, with participation from existing as well as new investors, and further strengthens the company’s balance sheet to advance multiple clinical programs. Proceeds from the financing will support the ongoing Phase 1 development of PT0253, PAQ’s KRAS G12D degrader, as well as the clinical advancement of PT0511.
"Completing this Series B extension and dosing the first patient in our PT0511 Phase 1 study represent important milestones for PAQ," said Nan Ji, PhD, Chief Executive Officer of PAQ Therapeutics. "Together, these achievements highlight our continued execution against a multi-program clinical strategy and our focus on addressing significant unmet need across KRAS-driven cancers."
PT0511 is a pan-KRAS degrader designed to target multiple oncogenic KRAS variants. The Phase 1 study is a first-in-human, open-label, dose-escalation trial evaluating the safety, tolerability, pharmacokinetics, and preliminary anti-tumor activity of PT0511 in patients with advanced solid tumors harboring KRAS alterations.
"The initiation of clinical dosing with PT0511 expands our clinical portfolio beyond single-mutation KRAS targeting," said Andrew Krivoshik, MD, PhD, Chief Medical Officer of PAQ Therapeutics. "A pan-KRAS degradation approach has the potential to address key limitations for patients observed with existing KRAS- or pan-RAS inhibitor therapies."
PAQ continues to advance a differentiated KRAS pipeline by leveraging targeted protein degradation to achieve deep and selective suppression of oncogenic signaling, while maintaining favorable safety and combinability profiles.
(Press release, PAQ Therapeutics, JAN 22, 2026, View Source [SID1234662174])