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ProfoundBio Closes $70 Million Series A+ Funding for ADC and Immunotherapy Drugs

publication date: Jun 2, 2022

ProfoundBio, a Suzhou-Seattle ADC and immunotherapy company, closed a $70 million Series A+ financing round led by Sequoia China. Profound announced itself one year ago with $58 million in initial capital from China investors and a team that previously worked at SeaGen, a Seattle oncology company. The company is developing novel Antibody Drug Conjugates and T-Cell Engagers to address cancer. Profound will use the proceeds to advance its two lead ADC candidates into Phase I clinical trials. The company’s earlier investors -- Lilly Asia Venture, Oriza, Chang'an Capital, LYFE Capital, and K2VC – also participated in the A+ round. More details....

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