Alongside its recently announced strategic collaboration, the Company has closed a new $40 million all-common stock equity investment by its strategic collaborators, major family investors, and leading venture funds
CAMBRIDGE, Mass., June 26, 2018 /CNW/ -- Skyhawk Therapeutics, Inc. ("Skyhawk"), today announced the closing of a new $40 million equity investment round alongside its recently announced $60 million strategic collaboration, bringing total new capital into the company to over $100 million. Proceeds will be used for development of Skyhawk's innovative STAR* technology platform to discover and develop small molecules that correct mutations in RNA, treating some of the world's most intractable diseases in indications ranging from neurology and oncology, to immunology. The Company expects its first oncology drug to be in the clinic by the end of 2019.
Participants in the all-common stock equity round included strategic collaborators, major family investors, and leading venture funds. The round included biotech-focused funds like Alexandria Venture Investments, GreatPoint Ventures, ShangPharma Innovation and Agent Capital, as well as major family investors including Tim Disney, the Duke of Bedford, the Reilly Family and other private, tech-focused family investment firms.
"We are very focused on the opportunity to build extraordinary drugs for patients," said Bill Haney, co-founder and CEO of Skyhawk. "Through our new strategic alliance and investment round, the company is well positioned and capitalized to advance both our partnered programs in neurology and internal programs that currently focus on a set of RNA splicing-driven cancer indications."
About Skyhawk Skyhawk Therapeutics is committed to discovering, developing and commercializing therapies that use its novel STAR* (Small molecule Therapies for Alternative splicing in RNA) platform to build small molecule drugs that bring breakthrough treatments to patients.