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August 12, 2024

New Haven-based Halda Therapeutics secures $126M in financing

PHOTOS | Michelle Tuccitto Sullo Craig Crews, center, prepares to cut the ceremonial ribbon in front of Halda Therapeutics’ new home in Winchester Works in 2021.
By David Krechevsky

New Haven biotech company Halda Therapeutics said Monday it has raised $126 million in new financing in a Series B extension.

The company, located in the city’s Winchester Works building, is developing a novel class of cancer therapies called RIPTAC (Regulated Induced Proximity TArgeting Chimeras) therapeutics. It said the proceeds from the latest financing round will be used in part to advance two RIPTAC candidates into clinical trials for patients with prostate cancer and breast cancer.

Funding was received from six new investors: Deep Track Capital, Frazier Life Sciences, RA Capital Management, Vida Ventures, Boxer Capital and Taiho Ventures, as well as existing investors Canaan Partners, Access Biotechnology, Elm Street Ventures, and Connecticut Innovations, the state’s quasi-public investment arm.  

Including the most recent financing round, Halda has raised $202 million to date from investors.

In conjunction with the latest investment, representatives of four of the new investors will join the Halda board of directors. They include:
Rebecca Luse, a principal at Deep Track Capital.
Joe Cabral, a principal at Frazier Life Sciences.
Nandita Shangari, Ph.D., managing director at RA Capital Management, and 
Dr. Arjun Goyal, co-founder and managing director at Vida Ventures.

Halda’s lead RIPTAC therapeutic, HLD-0915, is expected to start a Phase 1 clinical trial in the first half of 2025 for the treatment of patients with metastatic, castration-resistant prostate cancer (mCRPC), the company said.

The latest financing will also support the clinical development of a second RIPTAC therapeutic for metastatic breast cancer, while also enabling Halda to further build its team and to develop additional products using its RIPTAC platform.

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