California-based Vivace Therapeutics announced the closing of a $35 million Series D financing round which will support the development of first-in-class cancer therapies targeting the Hippo pathway.
The round was led by existing investor RA Capital Management and included investment from other existing investors, Canaan Partners and Cenova Capital.
Proceeds will support the continued clinical development of the company's transcriptional enhanced associate domain (TEAD) autopalmitoylation inhibitor, VT3989, with an initial focus on mesothelioma. VT3989 is an oral, highly potent and selective inhibitor of TEAD palmitoylation, which blocks YAP function.
The compound has been evaluated in more than 150 patients to date in an ongoing, open-label phase 1 clinical study and is the first and only member of the TEAD autopalmitoylation inhibitor class for which compelling clinical efficacy data have been publicly reported. In addition to promising efficacy, VT3989 has demonstrated excellent safety in the phase 1 trial.
Clinical findings for VT3989 have been particularly notable in patients with mesothelioma who have failed chemotherapy and immuno-oncology combination regimens, which represent the only approved therapies in this indication. Vivace is working to advance VT3989 toward a randomized registrational phase 3 clinical trial in patients with mesothelioma and intends to discuss its plans with the U.S. FDA later this year.