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Edgewood Oncology Raises $20M in Series A Financing to Advance Leukemia, Breast Cancer Drug

NEW YORK – Edgewood Oncology on Monday said it raised $20 million in Series A financing to advance development of its multi-kinase inhibitor BTX-A51 as a treatment for hematologic malignancies and genetically defined solid tumors.

The Series A financing was backed by Alta Partners.

The newly formed Edgewood acquired rights to BTX-A51 from the Hebrew University of Jerusalem in 2023 and plans to use the funding to conduct efficacy studies of it in AML and breast cancer.

BTX-A51 is an inhibitor of casein kinase 1 alpha (CK1α), cyclin-dependent kinase 7 (CDK7), and CDK9. In a Phase I study in heavily pretreated patients with relapsed and refractory acute myeloid leukemia, it demonstrated encouraging antileukemic activity with a favorable safety profile. Edgewood began a Phase II study of BTX-A51 with azacitidine in that setting in December to evaluate the response rate, safety, toxicity, and pharmacokinetics of the drug combination.

The Brookline, Massachusetts-based company plans to begin a Phase II trial of BTX-A51 in patients with GATA3-mutant breast cancers in Q2 2024.