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Quanta Therapeutics Raises $50.7M in Series D Financing

NEW YORK – Quanta Therapeutics on Monday said it raised $50.7 million in a Series D financing to advance its pipeline of KRAS inhibitors in solid tumors.

Avidity Partners led the financing, which also included participation from Sofinnova Investments, Vida Ventures, Surveyor Capital, and others. The new financing brings the total amount raised by the South San Francisco, California-based company to more than $142 million.

Quanta is developing allosteric inhibitors targeting RAS mutations. Its two lead programs, QTX3034 and QTX3046, are KRAS inhibitors.

QTX3034 has shown to be a potent, durable, and dose-responsive inhibitor of MAPK and KRAS signaling in KRAS-altered human cells, and it has demonstrated activity against KRAS-mutant cancer cells. In colorectal, pancreatic, and lung cancer xenograft models, the drug had strong single-agent, anti-tumor activity. Quanta plans to advance QTX3034 into investigational new drug application-enabling studies as a treatment for KRAS mutation-driven solid tumors.

QTX3046 is a KRAS G12D inhibitor that has shown activity in colorectal, pancreatic, and lung cancer xenograft models with oral administration. Quanta plans to conduct IND-enabling studies of the drug in KRAS G12D-driven solid tumors.

In a statement, Quanta CEO Perry Nisen said with the additional funding the firm is "well-positioned to rapidly advance" its lead therapeutic programs into the clinic next year and generate proof-of-concept data. Quanta also plans to use the funds to push forward discovery-stage programs in RAF1 and other undisclosed targets, as well as explore combination approaches with QTX3034 and QTX3046.